Phoenix Suns owner Robert Sarver and former NBA star Steve Nash have purchased a controlling share of Spanish second division soccer club Mallorca, according to the Associated Press.
The purchase had been rumored to be close to finished over the last week, and the club confirmed Tuesday that the Sarver, Nash and Suns vice chairman Andy Kohlberg had acquired the team for roughly $21 million.
Mallorca, founded in 1916, has spent much of the last few decades bouncing back and fourth between Spain‘s premier and second divisions. The team spent 16 seasons in the top division starting in 1996, before being relegated following the 2012-13 season.
The club has struggled with funding in its history, most recently declaring bankruptcy in 2010.
The purchase is Sarver‘s second attempt to buy a European soccer club in recent years, as he placed a bid to acquire a controlling stake in Scottish club Rangers in January 2015. That bid was turned down.
Mallorca (4–8–7) currently sits in 18th in the 22-team Spanish second division.