The Royal Emirates Group said yesterday they will buy Spanish club Getafe for a cost of around 90 million euros ($129.6 million), with an official announcement expected to come today or Thursday. The statement ended rumors that Real Zaragoza was to be the club purchased.
Suleiman al Butti, project manager for the REG, spoke with Reuters yesterday ending speculation about which La Liga club the group was planning to purchase but would not elaborate of the rumors that the club's name would be changed to "Team Dubai".
Meanwhile, Getafe's president Angel Torres is adamant he has not sold the club to anyone, despite the fact he and several players are reportedly on their way to Dubai. Torres claimed the trip is to "look for solutions for next season".
They have invited me to a presentation which this company (REG) sponsors and I am going with the idea of holding meetings to find sponsors, who will improve Getafe's image, as well as a new name for the stadium.
If the deal is approved, it would be the third Spanish club to be bought by a non-Spanish buyer in the last year. Malaga was purchased by a member of the Qatari royal family and Racing Santander by an Indian businessman.
Getafe has seen success in recent years, twice finishing as runner-up in the Copa del Rey and reaching the quarterfinals of the UEFA Cup in 2007-08. They currently sit 14th in the league table, only four points out of the relegation zone.