DLA Piper has advised funds managed by Fasanara Capital, in coordination with Tifosy Capital & Advisory —specialists in alternative financing for the sports sector— on the negotiation of the restructuring plan of Levante Unión Deportiva, filed before the Commercial Court No. 1 of Valencia.
The transaction is part of the process initiated by the football club to ensure its economic viability. The plan combines the sale of certain sporting assets —including players and the women’s team— with the design of a priority repayment mechanism for the financial credits held by Tifosy and Fasanara.
The restructuring plan, also supported by Edmond de Rothschild as another secured financial creditor, sets out an amortization schedule extending to 2027 or 2028, together with options for deferred credit and debt-to-equity conversion.
DLA Piper assisted Fasanara and Tifosy throughout the entire process, including the design and reinforcement of the security package, as well as the definition of the payment structure and waterfall.
The team involved in the Levante UD restructuring included Juan Verdugo, Partner and Head of Restructuring, Álvaro Pastrana, Senior Associate in Restructuring, and Alberto Rubio, Senior Associate in Finance.
Juan Verdugo commented: “This project required a multidisciplinary approach and a deep understanding of the financial and regulatory dynamics of professional sports. At DLA Piper, we have worked to deliver solutions that meet the needs of international creditors while enabling the club to regain its financial stability and embark on a new path toward long-term viability.”
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