BlueBay accuses Muñoz for the 8.6 million loan

BlueBay is once again the protagonist of Málaga news. It is expected that in a few weeks the resolution of the Provincial Court on the appeal presented by Abdullah Al Thani will be known in relation to the dispute over the ownership of its shares (the hotel company already has a first sentence in its favor) and, meanwhile, the company led by Jamal Satli Iglesias has publicly indicated in a statement to the judicial administrator for the request for the 8.6 million credit line that the club needs to meet its financial obligations until the end of the year.

BlueBay criticizes this movement of José María Muñoz and offers to make a contribution for that amount through a capital increase. The hotel company wanted to record its disagreement with this decision and proposes “as the best solution for Malaga that the funds be covered through the capital increase by its partners.”

The company thus shows its “willingness to contribute the 8.6 million euros required in capital increase” and has proposed to the Malaga judicial administrator “that he convene an Extraordinary General Shareholders' Meeting for approval. This will be the best way to allow a project to be launched with the level of management that allows sports development in which investment in the development of the quarry and in the institutional infrastructure desired for Malaga is the priority ”.

The hotel company condemns and directly opposes the request for the loan promoted by Muñoz, whom he accuses of not having complied with “the duty of information to the parties, to the not having reasonably substantiated the loan requested. It is not at all advisable to insist on borrowing the club in such a disproportionate way, as it would be highly damaging to its health and economic structure ”. This would entail, according to BlueBay, “a situation of high risk for the club's assets and for its future management”.

“It is precise and opportune to raise our voices before this crazy request to solve a club financial problem with a new loan, which will condition the LFP's solvency criteria to determine its salary limit. Are we going to resign ourselves to continuing to have the lowest staffing budget in the category?“Continues the statement from the hotel company, which ends by requesting” the formalization of this capital increase and with it to present a sports management project of pride for all Malaguistas. “