Royal Emirates Group on Thursday confirmed the 100 percent purchase of Spanish La Liga side Getafe and will “inject new blood into the team in the coming year”.
The team’s new name will be ‘Getafe Team Dubai’, officials said during a press conference at the Burj Al Arab, which included the Spanish side’s chairman and team captain.
The price for the Madrid-based club was put at between €70m and €90m, and the group will also not be taking on any debt.
“We were offered up to three teams in La Liga before we decided on Getafe,” Royal Emirates Group managing director Kaiser Rafiq said.
“Getafe is debt-free so, Royal Emirates Group will not need to service any debt”.
Royal Emirates Group is headed by Sheikh Butti Bin Suhail Al Maktoum.
Spain’s ‘La Liga’ includes some of the richest teams in the world, including Atlético Madrid, Barcelona, Málaga, Real Madrid and Valencia.
The deal is the third for the league involving a non-Spanish buyer in the past year, following the sale of Malaga to a member of the Qatari royal family and the purchase of Racing Santander by an Indian businessman.
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