Fundación Zaragoza 2032 Closing In On Acquisition Of Spanish Side Real Zaragoza
Spanish second division side Real Zaragoza's sale to the Fundación Zaragoza 2032 group, which is led by Telefónica President César Alierta, is "awaiting confirmation," according to the EFE. The Fundación group is "hoping the deal is finalized as soon as possible" ahead of the '14-15 season. The first step will involve former Zaragoza Owner Agapito Iglesias "trying to buy back his 90.62% stake in the club," which he sold to to a group of local businessmen on June 4. Without this, "no transaction will be possible." Fundación representative Cristian Lapetra said, "We are waiting for everything to be expressed in a contract, both for Iglesias to buy back his share and for him to sell it to us for €1 ($1.35)." After more than a month of "continuous ups and downs," with the club "fruitlessly waiting for the arrival of various investors from all over the world," Lapetra said that his group "is not expecting a last-minute surprise because 'everything is basically tied up.'" He thanked Iglesias for "taking the first step" after the former club owner announced in a statement his "intention to sell 72% of the club's shares to the Fundación Zaragoza 2032, while the other 18% would go to the Fundación Real Zaragoza, which would distribute it to club shareholders and season-ticket holders." Now the goal is to "arrive on time before the Spanish Football League (LFP) and meet its deadlines on when the club must pay off its debt" (EFE, 7/23).