Kosmos Holding, the sports and entertainment investment group founded by Barcelona defender Gerard Piqué, is close to purchasing Spanish fifth-tier team FC Andorra.
“Recent changes to the law have enabled the player to complete the purchase and the intention is to build a club with sights on playing in the upper echelons of the Spanish league system,” according to Spanish newspaper AS.
The club said in a statement: “Futbol Club Andorra has had conversations with different investment groups with the goal of ensuring the fulfilment of its sporting goals as well as an improvement in the club’s financial situation.
“As of today [Wednesday] negotiations have come to a close. Any agreement that is put forward will have to be approved by an assembly of club members. Futbol Club Andorra will not make any further comment on the issue.”
Kosmos recently entered into a 25-year partnership with the International Tennis Federation to revamp the Davis Cup.