Finance problems see Malaga CF's academy project grind to a halt
The club's relegation and difficulties selling land at El Viso have seen the money dry up and construction stall
ANTONIO GÓNGORA
Viernes, 16 de noviembre 2018, 11:22
Some eight years after the project was first mooted and after eight months of activity, construction on Malaga Club de Fútbol's new academy complex in Arraijanal, close to Malaga-Costa del Sol Airport, has practically stopped.
Besides technical difficulties that must still be overcome, the primary obstacle is finance.
Ever since the team's relegation to the second division at the end of last season, the club has been working on different formulas which could stagger the payments given the fall in revenues.
The construction company Bilba has been accommodating in this respect, but a payment of 4.5 million euros is still owed.
This sum is still tied up in a plot of land at El Viso which the club had agreed to sell to the University of Malaga (UMA). The sale was not permitted, however, until the club had resolved its financial issues.
Though the club's books are now in order, the administrative process is still ongoing and the Malaga Foundation still do not have access to the funds necessary to see works restart.
