x Abu Dhabi, UAESaturday 22 July 2017

Club 'not yet sold' to Royal Emirates

The president of the Getafe Spanish football team denied the team had been sold to Royal Emirates Group a day after a signing ceremony in Dubai.

Kaiser Rafiq, the managing director and a partner at Royal Emirates, said the Getafe deal was worth up to €90 million.
Kaiser Rafiq, the managing director and a partner at Royal Emirates, said the Getafe deal was worth up to €90 million.

The head of the Spanish La Liga football team Getafe denies it has been sold to Royal Emirates Group - despite a signing ceremony in Dubai on Thursday.

Angel Torres, the president of Getafe, said in Madrid on Friday "Getafe has not yet been sold", according to the Agence-France Press (AFP) news agency.

The signing ceremony was billed in a press release as a "signature event of momentous importance" where Royal Emirates Group "will become the owner of one of the top 'first league' Football teams of La Liga Spain".

Mr Torres said on Friday evening, however, he had signed "a series of agreements and protocols" in Dubai.

"First, I have to inform the board of all the things that were done, then I will give a news conference," he said, according to AFP.

At the press conference on Thursday, in the ballroom of the 27th floor of the Burj Al Arab hotel, Royal Emirates signed an agreement with Mr Torres and company executives posed for photographs in front of the Getafe logo with "Team Dubai" superimposed below.

Representatives from Getafe could not be reached for comment yesterday. Kaiser Rafiq, the managing director and a partner at Royal Emirates, said during a question-and-answer session the deal with Getafe was for between €70 million (Dh374.3m) and €90m.

He did not disclose the details of the transaction, saying it was a "confidential matter".

Mr Rafiq yesterday said, "Royal Emirates Group is now awaiting Mr Angel Torres to confirm the purchase himself in a press conference to be held this Monday at 6pm in Getafe."

On Friday The National reported there were doubts about the veracity of the information listed on Mr Rafiq's CV.

Royal Emirates Group is a conglomerate registered in Dubai that says it has more than 60 brands and companies.

It is not well-known in business circles and has announced few deals in the past.

bhope@thenational.ae