(Bloomberg) – A group of investors including the co-owners of Inter Miami CF and a partner of Ares Management Corp. have agreed to acquire a 51% stake in Spanish football club Real Zaragoza SAD.
The completion of the deal is subject to the club not being relegated from the second division of Spain this season and being approved by Spanish authorities, a statement said on Friday. According to the statement, it will allow Zaragoza to lower its debt burden and increase the spending cap for the squad.
The Mas Santos brothers are also part of the group buying Zaragoza from former Telefonica SA CEO Cesar Alierta. They co-own US club Inter Miami along with Ares and former England star David Beckham.
Zaragoza’s new owners also include Jim Miller, partner and co-head of Ares’ US direct lending business; Jim Carpenter, Chairman of Merchant Banking Boutique Riverside Management Group; and Joseph Oughourlian and Gustavo Serpa. Oughourlian and Serpa are the global and Colombian CEOs, respectively, at Amber Capital, which has invested in soccer clubs in Colombia and France.
Real Zaragoza went into administration in 2011 and were relegated to the second division two years later. The club’s most notable result came in 1995, when they won the UEFA Cup Winners’ Cup, beating England’s Arsenal in the final.
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