Owner of basketball franchise the Phoenix Suns in the NBA, since 2004, Sarver is also the CEO of Western Alliance Bancorporation. The offer his American consortium has made to Levante, is valued at €50 million for the 70% stake in the Spanish club, currently owned by Fundacion Cent Anys since 2009.
The move was initially announced by radio network Cadena COPE on Monday, although since then, Valenciano newspaper Super Deporte has highlighted that it's Sarver who is heading the American consortium, with a much more favourable outcome expected, compared to his failed bid for Rangers.
After a complicated bidding process in January, the final £20 million bid from Sarver was rejected by the Rangers board, amidst suggestions it wouldn't receive enough backing from shareholders, although he indicated a willingness to return if asked to do so.
However, tt appears the American financier hasn't wasted time in turning his attentions elsewhere though, with his consortium set to achieve a more successful outcome with their bid for Levante.
With the promise of significant investment and by retaining current club president, Quico Catalan, the bid from Sarver for Levante is expected to be approved, at an upcoming general board meeting on 23rd June.