Benfica shareholder José António dos Santos, known as the "King of Chickens," is in new talks to sell his 16.4% stake in Benfica SAD. According to Bloomberg, the businessman, who is the second-largest shareholder of the company, has been approached by several interested investors and is in negotiations with some of them. José António dos Santos told the U.S. agency that there are "two or three other investors interested" in his position, having set his target price at 15 euros per share, a value that represents more than double the closing price of the shares in the previous session.
Benfica SAD shares were down 0.6% on Wednesday, to 6.52 euros, giving the company a market capitalisation of around 150 million euros. This new sale process comes after a previous attempt to sell the stake to Tim Leiweke, an American investor, failed. The agreement provided for the acquisition of José António dos Santos's position at a premium to the share price, but did not proceed after Benfica raised concerns about Leiweke's investments in other European clubs, considering that they could violate the SAD's articles of association.
José António dos Santos told Bloomberg that there are currently no talks with Benfica regarding a possible sale of his stake. This position contrasts with information published by newspaper Eco, which reported that Benfica would be interested in acquiring the stake at current market prices, citing an interview with the SAD's chief financial officer, Nuno Catarino.
Benfica is controlled by the Sport Lisboa e Benfica association, which holds 64% of the SAD's capital. The club has been attracting growing interest from foreign investors, with U.S. group Lenore Sports Partners acquiring a 5.24% stake last year. Founded in 1904, Benfica is one of the three largest Portuguese clubs, alongside FC Porto and Sporting, and plays its matches at the Estádio da Luz in Lisbon, with a capacity of around 65,000 spectators.
