- Title: UAE: FOOTBALL/SOCCER - Royal Emirates Group signs deal to buy Spanish club Getafe
- Date: 22nd April 2011
- Summary: DUBAI, UNITED ARAB EMIRATES (APRIL 21, 2011) (REUTERS) (FROM LEFT) GETAFE STRIKER MANU, GETAFE PRESIDENT ANGEL TORRES, ROYAL EMIRATES MANAGING DIRECTOR KAISER RAFIQ, CHAIRMAN OF ROYAL EMIRATES GROUP SHEIKH BUTTI BIN SUHAIL AL MAKHTOUM AND ROYAL EMIRATES PROJECT DIRECTOR SULEIMAN AL BUTTI SOUNDBITE (Spanish) GETAFE PRESIDENT ANGEL TORRES SAYING: "As of today with the agreement with Royal Emirates the Getafe club will have all the necessary tools to be able to enter the biggest European competitions" SOUNDBITE (English) ROYAL EMIRATES MANAGING DIRECTOR KAISER RAFIQ SAYING: "The majority of the payment is upfront and of course there are some legalities which need to go through" CAMERA OPERATOR SOUNDBITE (English) ROYAL EMIRATES PROJECT MANAGER, SULEIMAN AL BUTTI SAYING: "Our vision and our aim now is to now beat Real Madrid 1:0, that is for sure" TOP TABLE AT NEWS CONFERENCE SOUNDBITE (English) ) ROYAL EMIRATES MANAGING DIRECTOR KAISER RAFIQ SAYING: "We were offered two or three La Liga clubs, I would rather not comment on that because it is the prestige of the club, and also we looked into Europe as well, but we found that Getafe has, yes, it is a young team but it is a very rising team " GETAFE CHAIRMAN ANGEL TORRES SIGNING AGREEMENT PANEL STANDING GETAFE STRIKER MANU STANDING NEXT TO ROYAL EMIRATES CHAIRMAN SHEIKH BUTTI BIN SUHAIL AL MAKHTOUM WHO POSES WITH HIS NAME ON A GETAFE SHIRT
- Embargoed: 7th May 2011 13:00
- Keywords:
- Location: United Arab Emirates
- Country: United Arab Emirates
- Topics: Sports
- Reuters ID: LVADKSSTBV35021VUGYZK5IIUZHA
- Story Text: Royal Emirates Group on Thursday (April 21) signed a deal to buy La Liga club Getafe for up to 90 million euros ($131.4 million), with the Dubai firm targeting a top six finish next season for the relegation-haunted Spanish minnows.
The club will be renamed "Getafe Team Dubai" following the acquisition by Royal Emirates, an investment firm chaired by Sheikh Butti Bin Suhail Al Maktoum.
"The majority of the payment is upfront and of course there are some legalities which need to go through", Royal Emirates managing director Kaiser Rafiq told reporters at a press conference in Dubai, adding the group had paid between 70 million and 90 million euros in a deal not funded by debt.
Getafe finished sixth last season, but are languishing in 14th place this term, four points above the relegation places, while the club, located in Madrid's suburbs, attract the lowest attendances in the Spanish top flight.
Yet Dubai officials seem undeterred. Suleiman al Butti, Royal Emirates project manager, earmarked qualification for the Champions League, Europe's elite club competition, within two seasons.
"Our vision and our aim now is to now beat Real Madrid 1:0, that is for sure," said Butti.
Royal Emirates officials would not be drawn on Getafe's transfer budget for the coming season, but said they had already players in mind.
The Getafe deal is the third foreign acquisition of a La Liga club 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.
"We were offered two or three La Liga clubs," said Rafiq, declining to mention their names. "We looked into Europe as well, but we found that Getafe is a young team but it is a very rising team."
He added that Royal Emirates Group is a private holding company and no funding is coming from the ruling family. This is strictly a private business deal, Rafiq said.
Getafe will try to bring Arab players to Getafe, providing they are good enough for La Liga, Butti added. - Copyright Holder: REUTERS
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