RCD Mallorca attracting Arab interest – La Liga News
The recent hierarchical trouble at RCD Mallorca has interested Arab investors in the club. However, the hard to come by shares of the club are a major stumbling block in the possible takeover.
At the moment, the chief investors for RCD Mallorca are from the Peninsula, especially Dubai. Concrete plans are in place as the club promotes meetings between stakeholders to find a possible resolution.
Recognized FIFA super agent http://www.senore.com/Football-soccer/Jorge-c19120 Mendes has been given the role of mediating between shareholders and owner Lorenzo Serra Ferrer, before a formal contact is made by the interested parties.
http://www.senore.com/Football-soccer/Cristiano-Ronaldo-c9629 and Jose Mourinho to Santiago Bernabéu.
The Portuguese agent has stated that he is bringing the chief players together to make the takeover possible. However, he commented that his http://www.senore.com/Football-soccer/Job-c18684 will be to convene all stakeholders together and will not be involved in the financial meddling.
Jesus Garcia Pitarch has been chosen by the investors for his expertise in the Spanish league and will be heading the Sports Directorate of the new project. Financial control of the venture has been put in his hands for the time being.
On the other hand, http://www.senore.com/Football-soccer/RCD-Mallorca-c40326 will be convening a meeting before their December 13 meeting with bankruptcy tribunal. The club has to answer for their creditors as well as signing of a new agreement between them.
Under the new contract between the creditors and the administrators, the debt to ordinary creditors of the club will be decreased from30 million Euros to 15 million Euros.
The club will also have to pay 27 million Euros to the Treasury. These payments will be paid in yearly instalments. Current owners of the club have planned to pay the amount of 4.5 million Euros annually to repay their debt in six years. The club will have
paid off their debts by 2017 year end.
Majority stock owner, Serra Ferrer has made it a priority to inject capital from an investment group. It has been reported that if the current Vice President is able to pull it off, the stakeholders will not put any obstacle to the sale of the club.
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