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BlueBay agree to accept Qatari offer if four conditions are met

BlueBay's director general Gonzalo Hervás and lawyer José Carlos Aguilera.
BlueBay's director general Gonzalo Hervás and lawyer José Carlos Aguilera. / Francis Silva
  • The club's future is still up in the air, while new interim sporting director Manolo Gaspar faces a difficult job ahead

The BlueBay hotel group has agreed to sell their shares in Malaga CF, but only if certain conditions are met. According to a court ruling which Sheikh Al-Thani is appealing, BlueBay is entitled to a 49 per cent stake in the club, and they have agreed to sell these shares under four conditions. The group wishes to know more about the identity of the investors behind the Qatari offer, their solvency, their plan for the club and what role, if any, they envisage for Al-Thani moving forward.

The offer that BlueBay has received is worth around five million euros and is the fruit of mediation on the part of city mayor Francisco de la Torre.

There is a real sense of urgency surrounding the negotiations, given that the club must have its current financial problems resolved by January or face a potential points deduction. Among other issues, the club is currently five million euros over its wage cap.

The new acting director general of the club, Richard Shaheen, has still not revealed how he plans to make the necessary changes by January. He has reduced the presence of security guards in some areas and informed employees' representatives that further such measures may be taken, but these actions barely scratch the surface of what has to be done in the next two months.

The American's most significant acts since arriving at the club have been the sacking of sporting director José Luis Pérez Caminero and director general Joaquín Jofre. Shaheen himself has taken Jofre's post, while Manolo Gaspar, until recently the club's technical secretary, has temporarily filled Caminero's boots.

Gaspar will hardly be given free rein in his new position; until the club resolves its financial problems, he will only be able to sign a player on the league's minimum wage of 80,000 euros per season.

The club is hesitant to make a free signing, however, and may well bide its time until the January transfer window opens. If things continue as they are now, the only arrival possible in January will be this minimum wage signing anyway.

Efforts to meet financial obligations by January are focused on structural changes and boosting revenue, but Gaspar will be aware that January player sales could well end up being the name of the game if these plans do not come to fruition.

Gaspar will also have to find solutions to the futures of the three players, José Rodríguez, Iván and Álex Mula, who could not be registered with the club after the summer transfer window slammed shut.