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SBD Global/July 25, 2014/Franchises

Spanish Second Division Side Real Zaragoza Now Owned By Fundación Zaragoza 2032

Spanish second division side Real Zaragoza "is now the property of the Fundación Zaragoza 2032 group," according to Christian Ortiz of MARCA. Fundación is led by Telefónica President César Alierta. Former Zaragoza Owner Agapito Iglesias received the shares in the club that he sold to local businessmen in June, who "signed off to have the shares revert back to Iglesias." On Thursday, Iglesias then signed an agreement to sell the shares to the Fundación. The club's new shareholders "are now working on a new project." Their first task "will be settling debts with players and team employees." Fundación will also have to pay the Spanish tax authorities €2.6M ($3.5M) (MARCA, 7/24).
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