English businessman Paul Davidson is set to buy the controlling share in Spanish football club Real Mallorca.

Davidson will pay around £50million to gain a 96% share in the club, beating former Newcastle chairman Freddy Shepherd, who had also been interested in buying the club.

Drac, the company which owns the club, announced on Tuesday that a pre-agreement had been reached.

It was also stated that Davidson will not take over as president of the club, with Drac owner Vicente Grande remaining in the role.