BlueBay puts forward plans for a new-look La Rosaleda
The BlueBay group is taking its involvement in Malaga CF very seriously. Indeed it is already planning what it will do with the club should its legal proceedings to seize control from current owner Sheikh Abdullah Al-Thani be successful.
In Marbella on Tuesday, the company’s owner, Jamal Iglesias, alongside one of the principal executives, Gonzalo Hervás, announced plans to expand La Rosaleda stadium - a move which they say will allow the club to take a massive leap forward.
The current ground, in the Martiricos area of the city, will be expanded to fit 47,000 spectators (current capacity is just over 30,000) and will see the construction of a commercial area as well as a hotel on the top floor.
This initiative is expected to cost somewhere in the region of 40 to 50 millions euros, but the club will be able to gain 20 million annually in increased revenues.
A number of former players were present at the event and will play a key role in the project’s development should it come to fruition.
Legal proceedings are well under way between the hotel business and Sheikh Al-Thani. The hotel group continues to demand that the conditions of the contract, which it signed in 2013 with the sheikh and his collaborators, should be honoured. In other words, it wants the 49 per cent of the shares in the football club as well as the right of complete control and management of the club with immediate effect.
For its part, Malaga CF insists that the hotel group failed to comply with the conditions of the contract, thereby rendering it invalid.source surinenglish