Qatari businessman Sheikh Abdullah bin Nasser Al Thani is set to seal a deal to buy Spanish football club Malaga in the next 48 hours, it was reported on Monday.
The buy-out, which is reportedly worth EUR25m, will make him the first overseas owner of a Spanish football club.
Sheikh Abdullah, chairman of Nasser bin Abdullah and Sons Group, is expected to announce the details of the new purchase at a press conference in the next 48 hours, The Peninsula reported.
According to the paper, Sheikh Abdullah will have 100 percent ownership of the club.
Sheikh Abdullah is also expected to announce the new club coach and his plans to bring in new players including Rangers star Madjid Bougherra.
A first division club which competes in La Liga, Malaga was established in 1948. Malaga escaped relegation on the last day of the season with a 1-1 draw against Real Madrid.
The club has a sizeable British following, mainly due to the large number of British expatriates residing on the Costa del Sol.For all the latest sports news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.