The group of shareholders led by Club President Andy Kohlberg has reached an agreement to acquire the shares of Robert Sarver and additional investors.
The updated ownership agreement, which will come into activity on June 30, will make Kohlberg the club's majority shareholder.
The newly formed board, under Kohlberg's leadership, will maintain the club's growth strategy from a sports and business perspective.
"RCD Mallorca has immense potential,” said Kohlberg. “Our goal is to continue to enhance the fan experience through a state-of-the-art stadium integrated into the city and a highly competitive team. I extend my thanks to our loyal fans for their continued support."
Since their acquisition in 2016, Kohlberg, Sarver and the RCD Mallorca team have shown unwavering dedication to improving the club's financial and sporting performance, while revolutionising fan experiences both inside and outside the stadium.
"My time at the club has been immensely rewarding,” said Sarver. “To think of our achievements, such as securing a position in La Liga, fills me with pride. We have made significant investments in the stadium and other areas of the club, always with the best interests of RCD Mallorca in mind. I extend my sincere thanks to the city, the fans and the club's employees for their unwavering commitment and dedication."
CEO of Business Alfonso Diaz and Sporting Director Pablo Ortells, will respectively lead the business and sporting divisions of the club.
Their management has already led to two promotions, a return to LaLiga, the renovation of the stadium and a stable position in the top flight of Spanish football.
"The restructuring reaffirms the strong support of the shareholders for our vision,” said Diaz. “Our ongoing commitment is to build a stronger club and ensure sporting success for our fans, sponsors and partner institutions."
Kohlberg, the club's new majority shareholder, brings to his position a remarkable 40-year career in professional sports, including vice president of the Phoenix Suns and a decade in ATP tournament tennis.
In addition to his sporting success, our club president is the founder and CEO of Kisco Senior Living, a leading U.S. senior living company that owns and manages 24 communities with more than 4,000 residents and a staff of more than 2,300 employees.