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Vice-chairman Magnus Pehrsson during a press conference on Sunday 3 March. SUR
New owners found for struggling Costa del Sol football club
Football

New owners found for struggling Costa del Sol football club

Vélez-Málaga CF has lost key players who had not been paid for four months as the club ran into debt after potential investors pulled out at the last minute

Jennie Rhodes

Vélez-Málaga

Tuesday, 5 March 2024, 15:41

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Vélez-Málaga football club, on the eastern stretch of the Costa del Sol, issued an announcement on its social media on Sunday (3 March) saying that new owners have been found and that an official presentation is due to take place at 8pm on Thursday 7 March at the club's Vivar Téllez ground.

The announcement comes after months of financial problems leading to most of the clubs key players along with other staff leaving the club after not being paid for four months.

In the statement the two former owners of the club, chairman Jesper Norberg and vice-chairman Magnus Pehrsson, said that in October 2023 the club "was already in debt due to the French investors pulling out of a contract". They went on to say, “We chose to do everything we could to save the club from this very difficult situation we were forced into. We did it because of the promise we made when we came and because of the honour of being part of the club's long history. We also did it for all the good people we met in and around the club since we arrived."

Intentions

“The club entered the current 23/24 season with a new owner. On 1 August 2023 the contract was signed and the club passed into the hands of a new French investor with clear ambitions. All planning was based on the budget given by the new owner. Unfortunately, it was all based on lies and the funds and obligations agreed under the signed contract were never fulfilled at all,” it went on to say.

The club became a SAD (Sociedad Anónima Deportiva) in 2022. According to the statement issued by Norberg and Pehrsson, this means “you cannot, as the owner of a company in Spain, simply decide to leave. The only two options were either bankruptcy and let the club dissolve, or bring in a new investor with us/sell the club to someone else to take over and continue the work to develop the club.”

Norberg and Pehrsson said in the statement, “When we took over the club in the summer of 2020, we were clear about our intentions: we would totally transform a traditional amateur club and turn it into a professional and modern club with the ambition to promote the team to higher divisions.”

They concluded, “We sincerely hope for a great end of the season and a beautiful future for the club and the people of Vélez-Málaga.”

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