Spanish side Getafe have been bought out by the Royal Emirates Group for a fee believed to be in the region of 70 to 90 million Euros.
The group, chaired by a member of the Dubai ruling Al-Maktoum family, has bought a 100 percent stake in the club.
“Royal Emirates Group plans to invest heavily in inducting new blood and promoting the team in the region with the aim to make Dubai a transcending sky bridge between Europe and the Middle East,” a Royal Emirates Group statement said.
“(Getafe president) Angel Torres felt this landmark agreement will lead to new business relationships being forged between UAE and Spain.”
“In the spirit of this joint endeavour and to show the solidarity of the people of Dubai it was announced that Getafe CF will now add the tag line “Team Dubai” to its crest.”
“Royal Emirates Group plans to invest heavily in inducting new blood and promoting the team in the region with the aim to make Dubai a transcending sky bridge between Europe and the Middle East. ”
Getafe become the second La Liga side to be bought out by a group from the Middle East, after Qatari billionaire Sheikh Abdullah bin Nasser Al-Thani bought Malaga in last year for 25 million Euros.
After finishing sixth last season, Getafe have struggled to back that progress up this campaign, currently sitting 14th in La Liga, just four point above the relegation zone.
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