PALMA
BRITISH tycoon Freddy Shepherd yesterday sat down for talks with Real Mallorca football club.
The former chairman of Newcastle United is in the process of making a possible bid for the 93 percent stake owned by the current chairman Vicente Grande and yesterday he and his legal team met representatives from Real Mallorca and Sa Nostra bank at the finance group's headquarters in Palma. Not at the ONO Stadium as expected. It is understood that Shepherd has been waiting to see the latest accounts and a full report on the financial situation of Real Mallorca before making a final decision about his bid for the club which is understood to be in the region of 40 million euros.
Shepherd, who spent the weekend at his holiday home in Andratx, and his financial director have been eagerly waiting to see the financial report and his advisors returned to England directly after the meeting to study the report and the figures.
Chairman Vicente Grande was not present at yesterday's meeting but spent the day in close contact with his representatives Joaquin Garcia and Pedro Terrassa.
Grande, whose international construction and development empire Drac, filed for insolvency last month following the burst of the country's real estate bubble and it is a subsidiary of Drac which owns the 93 percent stake in Real Mallorca.
Shepherd is said to be also interested in obtaining the remaining seven percent of the shares so he can take over complete control of the football club but Grande will try and hold out for the highest price possible for his stake.