Messi has not yet notified Spain's CSD of his Eldense takeover bid

Leo Messi's move to gain control of Eldense, a club competing in Spain's Segunda División, is moving forward but has not cleared every hurdle yet. The Argentine star submitted the offer in recent hours, but the acquisition has still not been formally communicated to the Consejo Superior de Deportes, Spain's top sports authority. That step is mandatory: anyone planning to hold more than 25% of a sports limited company, known as a SAD, needs prior authorization from the CSD.

• Messi's offer for Eldense aims to secure a majority stake in the Segunda División club.
• The deal has not yet been notified to the CSD, a mandatory step for stakes of 25% or more.
• The Sports Law requires detailed documents identifying buyer, seller and the structure of the deal.
• The CSD has up to three months to rule, though it typically responds much faster.
• Messi could not play in LaLiga's top two tiers due to economic interests in the competition.

The pending step before the Consejo Superior de Deportes

Once the Eldense purchase is closed, Messi will have to do what he already did in April after buying 85.5% of Cornellá, a Tercera Federación club: submit a formal request to the CSD. The rules are strict. Any individual or company planning to buy shares in a SAD and end up controlling at least 25% of voting rights must obtain prior approval from the national sports authority. Without that green light, the deal cannot go through.

What documents the Sports Law requires to buy Eldense

This is not a simple form. Messi and his investment group will have to assemble a full file. The law requires identifying both buyer and seller and, if the operation goes through controlled companies or third parties, also those who appear as direct owners of the shares. When someone is buying on behalf of another party, that must be stated clearly.

The paperwork must also specify the SAD or club in which the stake is being acquired, the shares or securities involved and the percentage the applicant will hold once the transaction is completed. If the buyer is a legal entity, information on the shareholding structure down to the natural person is required. The file also needs a notarial record or a responsible declaration confirming that the acquirer does not fall under any of the bans listed in article 23 of the Sports Law.

Three months to rule and why multi-club ownership is allowed here

After the request is filed, the CSD has a maximum of three months to issue a decision. In practice, the process is usually much faster, as shown by the Cornellá purchase. The obvious question is whether Messi can control two clubs at once, and in this case the answer is yes. Eldense plays in Segunda División while Cornellá competes in Tercera Federación, two different tiers.

The law only bans multi-club ownership within professional sport. The wording is explicit: no person or company holding at least 5% of voting rights in one SAD may hold another 5% or more in a second sports limited company that competes in the same professional competition or, if different, in the same sport. Since these two clubs play in separate competitions, the restriction does not apply.

The immediate consequence: Messi could not play in Primera or Segunda

The Eldense deal carries a direct consequence as soon as it becomes effective. Leo Messi would be barred from playing in both Primera and Segunda División. The CSD, through what has been labelled the Anti-Piqué Law, established that athletes competing in a sport cannot have direct or indirect economic interests in the organization of that competition. That includes, of course, any potential return to Barcelona.

Messi's second club after Cornellá

The interest in Eldense marks Messi's second move into club ownership. In April he completed the purchase of 85.5% of Cornellá in a deal that also went through the CSD and was resolved quickly. With the Alicante-based club, the Argentine would step up to a higher division, triggering new legal restrictions and expanding his footprint in Spanish football.