Osborne Clarke advises on the purchase of 75% of Racing Santander

Osborne Clarke has advised Argentine businessman Sebastián Ceria on the purchase of Racing Santander football club from Grupo Pitma.

Former club president Manolo Higuera has reached an agreement to buy 75% of the shares of the club until now held by Alfredo Pérez and Pedro Ortiz, the owners of Pitma and still president and vice-president of Racing. Pitma is no longer the majority shareholder of Racing Santander. The group has sold its entire stake in the club to a company created by Argentinian businessman and mathematician Sebastián Ceria and former Racing president Manolo Higuera. Sebman Sports International, which will become the majority shareholder.

The transaction is subject to the authorisation of the Consejo Superior de Deportes and will involve the acquisition of the majority stake in the club.

The team was led by Vicente Conde (partner) and María Gómez-Rodulfo (associate).