Not all foreign investment/ownership works out,so due diligenence is important! Foreign Ownership and La Liga 1) Racing: Club has one BK and the owner went missing after he was put on Interpol's List for Allegation Of Fraud. http://www.goal.com/en-india/news/136/india/2012/05/02/3072025/and-you-blame-the-venkys-indian-owned-racing-santanders 2) Getafe: Ownership was a scam. http://www.theballisflat.info/2012/07/getafe-dubai-club-scam.html 3) Malaga: It is alleged that the President of Malaga after spending €150m+in the last 2 years has decided the TV rights distribution is unfair in Spain (duh!) and no longer wants to spend new monies on his club. - At present the club owes approx €20m to the treasury and 2 clubs for transfer sales taxes. The rumor is Malaga could sell Cazorla, Rondon etc to pay for the debt, so they don't get kicked out of Primera or UEFA CL. - Also, there are complaints Malaga players are not getting paid on time and some are owned salaries. * Recently the President of Association of Spanish Footballers (AFE), Luis Rubiale visited Malaga players to check the situation. - In the meantime, Malaga boss recent tweets have blasted the Spanish Football Ferderation (RFEF) on TV Rights monies, Corruption by clubs and accused Spanish media of being racist. .
Update on Malaga > July 12, 2012 Malaga players complained to AFE (Association of Spanish Footballers) that up to 40% of their wages for 2011/2012 season remain unpaid*. * 2011/2012 wages were due to players by June 30, 2012 > July 16, 2012 Luis Rubiales, head of the AFE had a meeting with Malaga players. > July 17, 2012 Casado, Director of Development and Business for Malaga makes pact with players (except Rondon, Mathijsen, Van Nistelrooy and Cazorla) and signs 2 promissory notes to pay players their wages that were due on June 30, 2011 for 2011/12 season on July 31, 2012 and November 30, 2012. > July 1, 2012 Morning Rondon, Mathijsen, Van Nistelrooy and Cazorla file official complaint with AFE for unpaid wages (40%) that were due on June 30, 2012. > July 18, 2012 Afternoon Rondon, Mathijsen, Van Nistelrooy and Cazorla withdraw their wage complaints when Casado agrees to include them in the Pact and sign 2 promissory notes with them. > July 19, 20 Cazorla via his reps sends in his Transfer request to Malaga. - Rumor is Arsenal have made €20m bid Cazorla. > July 19, 2012 Villarreal and Osasuna file complaint to LFP (Spanish Professional football League). - For unpaid VAT (€3m) for sale of Cazorla to Malaga for 2011/12 season - For unpaid transfer fee (€2m of €6m) for sale of Moriela to Malaga. > July 20, 12 LFP suspends Malaga from signing new players till Malaga pays it debts to the 2 clubs. > July 22, 2012 Malaga is still waiting for the arrival of their VP (Only he can sign checks) to settle debts and pay the 1st promissory note to players. > July 27, 2012 Malaga owner has send his rep Shatat to Malaga to see the situation of debt payments to clubs and owed wages to players. > July 28, 2012 Word is the owner of Malaga is negotiating with group lead by Albanian businessman R. Taci of Taci Group and Taci Oil to sell the club. - It has been alleged that the owner of Malaga after spending €150m+in the last 2 years has stated that TV rights distribution in Spain is unfair and no longer wants to spend new monies on the club. He also has stated that the Madrid media is bias and racist. .
Update # 2 on Malaga > July 29, 2012 It is alleged/rumored Malaga currently have a €70m+ debt. (Monies owed to players in wages, VAT, taxes and monies owed to creditors) > July 30, 2012 Morning Taci Group/Taci Oil deny they are interested in buying Malaga. > July 30, 2012 Afternoon It's been reported Malaga have failed to make 2nd payment of €3.5m that was due on July 27, 2012 to former owner Sanz for acquisition of the club in 2010. > July 31, 2012 Is the due date for Malaga to pay the 1st promissory note to players for wages that were due on June 30, 2012 for 2011/12 season. - 40% of the wages are outstanding from 2011/12 season of which 30% are due on July 31, 2012 and 70% on Nov 30, 2012. .
Update # 3 on Malaga. > August 1, 2012 - Malaga project is over, as the Sheikh (owner) will not put up new monies or borrow, so the club will sell Cazorla, Rondon, Toulalan and possibly Isco for cash to make payments that are due immediately to players and clubs. - Malaga has been put up for sale. - Director of Football, Antonio Fernandez has been relieved of his duties. > August 2, 2012 - River Plate have filed complain with FIFA for €1m, due for Buonanotte transfer. - Cazorla is being sold to Arsenal for €16m cash. Villarreal - To -> Malaga (For €19m cash + €2m variable + €0.5m sell on fee) - Pellegrini future is in doubt since Malaga can not afford to pay his wages of €3.5m year anymore. > August 5, 2012 - Cazorla has been sold to Arsenal for €16m cash. - Rondon has been sold to Rubin Kazan for €10m. -- Break down of €70m+ debt of Malaga as of August 1, 2012. a) 40% of the wages to players/staff that are outstanding from 2011/12 season. b) July wages to players/staff for 2012/13 season. c) €4m (€3.5m VAT + €0.5m sell on) for Cazrola to Villlarreal, €1m to River Plate for Buonanotte, €2.5m to Hamburg for Mathijsen, €2m to Osasuna for Monreal. d) 2nd payment of €3.5m to former owner Sanz that was due on July 27, 2013. e) €14m owed taxes to the Tax man/Hacienda from time of purchase. (Sheikh bought Malaga from Sanz for €36m + debts + taxes owed) in 2010. f) €30m owed to creditors, vendors, etc. .