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SBD Global/July 21, 2014/Franchises

Spanish Second Division Side Real Zaragoza's Former Owner To Decide Club's Fate

Former Spanish second division side Real Zaragoza Owner Agapito Iglesias "still does not know who he will sell his remaining shares to," according to Christian Ortiz of MARCA. Iglesias "cannot delay his decision much longer, but it seems as though he will wait until the last minute." His idea "is clear and simple." He wants to sell to someone who is capable of paying the €10M ($13.5M) he is asking for and also "able to help the club keep competing." Although the club's current owners announced an agreement with a group of Mexican investors, the latest group to enter negotiations, "consisting of German investors, has an advantage, as Spain's tax authorities have not approved of the solvency of the Mexican group." Additionally, "the offer from the Germans is closer to what Iglesias is asking." Iglesias "met with bidders on Friday, but no agreement was reached." Another bidder, the Fundación Zaragoza 2032 group, which is led by Telefónica President César Alierta, "continues to wait." The Alierta-led group of local businessmen hopes that the Mexican and German bids "fall through and that Iglesias has no choice but to sell the shares to his group" for just €1. Iglesias "has not contacted anyone from Fundación Zaragoza 2032, as this is the last choice." Alierta "and company, however, are keeping their faith until the end." Currently, "most Zaragoza supporters are in favor of the Fundación Zaragoza 2032 group, as this choice has created the most excitement, although this does not seem to matter to Iglesias" (MARCA, 7/19). In Zaragoza, J. Miguel Tafalla reported Iglesias "is seriously considering his right of resolution." Since Saturday, Iglesias "has considered recovering his majority share to later transfer it to the Fundación Zaragoza 2032." He has "always believed the best path for the club would be a trade that would inject new capital" (HERALDO DE ARAGÓN, 7/20).
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