Decisive hours for the change of ownership in Zaragoza

Spain Football Capital intends to go to the notary to sign the purchase next week, while the Alierta family continues to negotiate.


After half a year of comings and goings, of accelerations and setbacks and parallel conversations, Real Zaragoza has finally entered into absolutely defining days for the change of ownership. As AS has been telling, two investment groups are finalizing their entry into the first sports corporation in Aragon, a Mexican group, whose identity is unknown, which maintains a constant dialogue with the director Fernando de Yarza López-Madrazo, and a multinational investment group, with a US parent company, whose name has not been disclosed either for confidentiality reasons and which is negotiating directly with the Alierta family, which owns 50.56% of the share capital, and, therefore, is decisive in deciding the operation. Two weeks ago, the option of Spain Football Capital seemed the most advanced, but nothing is final at the moment, far from it.

The purchase offer of Spain Football Capital, always according to a spokesman for Real Zaragoza itself, contemplates the immediate payment of just over six million euros of share capital represented by the Alierta (50.56), Yarza (13.46) %), Iribarren (13,465) and Forcén (13.46%), a total of 90.94% of the shares of the sports corporation, in addition to another 3.5 million to César Alierta himself for a participatory loan, as already revealed by this newspaper on the 15th, and another ten million to meet the most urgent payment obligations of the corporation, such as installments with the Tax Agency and also different bank loans. And then, of course, there is the assumption of the guarantees signed by the Alierta trustees - it has provided, either directly or by guaranteeing through the capitalization of loans, 17 of the 22 million euros assumed in 2014 by the Zaragoza 2032 Foundation-, Yarza, Iribarren and Forcen. In total, almost 20 million in a first shock investment to be able to undertake with minimal guarantees regarding the salary limit set by LaLiga for the season 2021-22.

This Mexican group also plans, according to the same source, to invest another 30 million euros in the following three years.The details of the economic proposal of the US group, with extensive international experience in sports management, have not transpired, but the mayor of Zaragoza himself, Jorge Azcón, has perfect evidence of his parallel intention to remodel and exploit the La Romareda stadium, Municipally owned.

Real Zaragoza SAD is experiencing days of uncertainty and changes due to its serious economic situation - still with 71 million net debt - and to the completion, due to exhaustion and failed solutions, of the salvation project on the bell that the patrons of the Zaragoza 2032 Foundation they started in July 2014. Seven years later, and with all the planning in the air for the next season, a cycle is closing and the change of ownership is a matter of days, at most a week. Beyond that, a process that has zaragocism in suspense will not be prolonged.

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