Scots football legend Steve Archibald claims he is being forced out of his own firm in a “vile and brutal” takeover bid by a billion dollar business partner.
The former Barcelona FC star, from Glasgow, is taking a Spanish energy giant to court after a partnership with his own venture turned sour.
Defiant Archibald - who turned out for 13 clubs in a glittering career that spanned 22 years and saw 154 goals - told the Record: “It’s not going to happen to me without a fight."
The ex Aberdeen, Hibs and Tottenham star launched renewable energy firm FC Energía in Barcelona in 2018, aiming to link the sector with scores of Spanish clubs.
He partnered with Madrid-based Nexus Energia - reported to have generated $1.01 billion in sales - to help boost his business but says he has now been removed as CEO and could have his shares slashed.
Archibald, who won 27 caps for his country, said: “I increased the business by 1,000% in my first year as CEO then Nexus Energy decided they wanted me out of the business and started a hostile takeover bid.
“I’ve been dealing with lawyers virtually every day since November last year and it takes its toll. It’s been vile and brutal.”
Archibald set out to create a “fair” green energy firm working with big clubs and formed collaborations with several La Liga teams, including Atletico Madrid, Seville and Valencia.
He said one of his proudest achievements has been offering a 'hero tariff" to medical workers during the pandemic.
He claims problems began when Nexus chiefs told him they wanted him to leave the business last year and a former partner who had previously been voted out was brought back to the business, cementing his own removal as CEO.
The Spanish football pundit remains a director and shareholder but says he was informed this week that his 50% shares could be cut to 30%.
He said: “I can attend board meetings but because they are now using the other director’s vote, I’m always outvoted. He and Nexus claim to have 70% of the shares so there’s nothing I can do.
They will pay the price for their actions.
“It’s now with lawyers and there will be a lawsuit very soon. My hope is that when we get to court they will pay the price.
“They’re a billion-dollar company and I’m just a little guy. Big companies get away with stuff like this all the time – it’s not going to happen to me without a fight.”
We contacted Nexus Energia but are yet to receive a response.
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