Font Size

- Aa +

Sun 24 Apr 2011 02:16 PM

Font Size

- Aa +

Dubai Royal inks buyout deal for Spain’s Getafe

Dubai-based Royal Emirates Group inks deal to buy indebted Spanish club for up to €90m

Dubai Royal inks buyout deal for Spain’s Getafe
Representatives of Getafe CF and Dubai's Royal Emirates Group meet at the Burj Al Arab to sign the deal (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
Dr Kaiser Rafiq, managing director of Royal Emirates Group, was behind the decision to buy Getafe CF (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
Angel Torres Sanchez, chairman of the club, plays football on the Burj Al Arab's helipad (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
Royal Emirates Group have agreed to buy the Madrid based club for between $100m to $130m (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
Now called Getafe Team Dubai, it will become the third Spanish club to be owned by Gulf-based owners (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
Sheikh Butti Bin Suhail Al Maktoum is the chairman of the Royal Emirates Group, an investment firm (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
Football fans have criticised the renaming of the club, which was founded 66 years ago in Madrid (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
Dr Kaiser Rafiq said that the Group chose Getafe CF because it it would not need to service any debt (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
Getafe are currently 14th in La Liga, and are hovering just above the relegation zone with 37 points (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
The announcement was made in the presence of Spain's ambassador and Dubai's minister of culture (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
Dr Kaiser Rafiq and Sheikh Butti Al Maktoum aim to turn the struggling club's fortunes around (ITP Images)
Dubai Royal inks buyout deal for Spain’s Getafe
So far no announcements have been made regarding what investments will be made in the team (ITP Images)