A Sergio Ramos-led consortium’s proposed deal to buy Sevilla appears to have collapsed.The Athletic reported on May 12 that the consortium, led by the 40-year-old former Real Madrid defender, had reached an agreement in principle to buy the Spanish club in a deal worth around €444million. However, talks have broken down after differences emerged between the parties and sources close to the selling side consider the negotiations to be off. Sources close to Ramos left the latest meeting with the impression that the deal is now difficult to conclude and are awaiting formal communication that it is off, although they understand this is unlikely to arrive before the exclusivity deadline of May 31.After several meetings between the two parties over the last two weeks, another meeting took place on Wednesday in which Ramos’s team presented a new offer and changed the terms of the initial proposal under which a preliminary agreement had been reached.In the new offer, Ramos, together with fund Five Eleven and a group of Mexican investors, proposed buying a smaller stake in stages while contributing more money through a capital increase.The new proposal involved a smaller offer up front, but the equity value was higher, according to sources close to the bid.Ramos had two spells at Sevilla as a player (Jorge Guerrero/AFP via Getty Images)The terms of the initial agreement in principle reached this month involved the Ramos-backed consortium acquiring 85 per cent of the club’s shares for €275m, while also assuming €85m in debt and committing to an €80m capital increase.