Rumours surrouding the sale of the club began in the early stages of 2015. Their majority shareholders, conscious of the tough current economic situation, have tried their hardest to track down cash injections. Espanyol are in a complicated financial situation, above all due to the debts owed to Hacienda. In the past, they have managed to get by courtesy of transferring players, but now the Catalan club have reached a point where it is difficult to avoid facing up to making repayments. This summer is especially important, with a vital sum of money due to Hacienda.

Lluis Miguelsanz

A devastating blow to Espanyol's finances has been an ongoing crisis with their current sponsor, Power8, who would like to break their commercial agreement with the club. The news is a lethal torpedo to Espanyol's attempts to stay afloat. The club's majority shareholders are also reaching the end of their tethers, after already pumping their own money into supporting the club. At this point, there can be no other solution than finding a financial group or multimillionaire.

There are two offers on the table, but the proposed figures behind American investment from Cerberus still need to be analysed. The negotiations are at an advanced stage and contracts are currently being drawn up to try and put together a pre-agreement. The more viable option comes from Chinese investment group Fosun, one of the most powerful groups of their kind in the world. Talks have progressed, but they may be unable to put together a deal that will be capable of improving the financial state of the club in the short-term future.

Cerberus Capital Management's offer would involve the purchase of 40% of Espanyol's shares. In the event of this, majority shareholders Daniel Sanchez Llibre and Ramon Condal would take lower their stakes in the club. The investment group would be able to secure 75% of the money generated by shareholders as a result to encourage future growth. Cerberus would take charge of the club's debts alongside an English bank, restructuring the debt of 140 million euros, with Espanyol also able to repay Hacienda. The North America group intend to invest 50 million euros to lead a charge towards the Champions League, revitalising the club to encourage profits.

The other option is Chinese business group Fosun. They have been interested in Espanyol since last year, but have not become involved in negotiations until recent weeks. Fosun would like to aquire the most shares possible, before taking responsibility for the debt themselves, using their own depts of resources rather than a loan. They have huge economic potential, but negotiations are moving slowly and there is still no green light given regarding the purchase of the club. Espanyol's majority shareholders are in constant contact with the Chinese group and hope for news this week.

If things with Fosun do not take a definitive step forward, Cerberus - a group which has 25 million dollars worth of investment within 300 businesses around the world - will take control of Espanyol. Change is very close.