Two years of the judicial revolution

Today marks the two-year anniversary of the judicial revolution that led to the termination of Abdullah Al Thani’s duties as president of Malaga and that of his sons Nasser, Nayef and Rakkan who were directors of the entity. The Magistrate of the 14th Court of Malaga, María Ángeles Ruiz, appointed the lawyer and economist José María Muñoz as judicial administrator, for a period of six months, extendable indefinitely.

What seemed like a temporary decision while the institutional fate of Malaga was resolved has been extended over time. This same Sunday, Muñoz’s mandate is formally extended for another six months, that is, until August 20. But since the ruckus remains the same, Muñoz is prepared to continue managing the club for the space of… seven years. It is what a process as complicated as this can last.

The Association of Small Shareholders (APA) filed a complaint against the Al Thani on 9-11-2019. There were ten pages with several documents attached to alleged crimes of “unfair administration, misappropriation and imposition of abusive corporate agreements.” After being admitted for processing, the City Council also appeared at the same. All the institutions, without distinction of political colors, showed their concern about the debacle of the club due to the absurd and irresponsible management of the Al Thani.

Crossing of complaints

Since his dismissal as top leader (not as owner), the sheikh has embarked on a full flight forward. First to recover “what is mine” (so he said), then for Richard Shaheen to recover his position as CEO to “control the judicial administrator” that the first thing he did was fire him. Shaheen, an American, had almost closed the signing of the German Olaf Rebbe as sports director and Luis Fernández as coach, which would have meant the departure of Manolo Gaspar and Sergio Pellicer, respectively.

Then he dedicated himself to sending communications through a communication agency that was more absurd, like the one where he complained about having sold Antoñín for 1.5 million euros when he had an offer from Getafe for 2.2 kilos. The Madrid team never corroborated it.

As the communication agencies disappeared, the Al Thanis put off each and every one of the judge’s requests for them to give a statement. Dilatory attitude by which it is assessed what options there are to request a search and arrest warrant against the sheikh and his sons. Here the issue is stuck.

BlueBay’s role

BlueBay is the hotel company that owns 49% of Al Thani’s shares after winning a lawsuit dating back to 2013 when the then agent and vice president of the club Moayad Shatat signed this agreement in exchange for the hotel company managing the club’s debt, then 103 million euros. The Qatari did not recognize that agreement and a series of lawsuits began. Al Thani has resorted

But BlueBay also has an open front with Muñoz because it considers that the judicial administration “is no longer necessary” and proposes a management model that its representatives explained on June 6, 2021 during an informative breakfast. This is how its general director, Gonzalo Hervás, explained it. “We want to incorporate a comprehensive management model with a successful track record. After an in-depth analysis, we contacted Andrés Fassi, sports leader of the Pachuca Group in Mexico, president of the Talleres club in Argentina and who has managed the León club in Mexico and Everton in Chile and one of the most successful football entrepreneurs in Latin America in the last 30 years. We want to create a structure in the club that generates talent in training schools. Generation and sale of talent. We have absolute confidence.” It must be remembered that BlueBay is also claiming 30 million euros from the Sheikh and argues that the capital increase in Malaga “is an inexcusable necessity.”

How much is Malaga worth?

For a better understanding, we reproduce this paragraph from the information published in November on the Cadena Ser de Málaga website. “The experts, Victoria Oliva and Salvador Pedraza, commissioned by the Court of Instruction number 14 of Malaga, to appraise the actions of the Málaga CF, have estimated that the Malaga club has a value of 45,747,911 euros.

The Chief Magistrate of the Court commissioned the aforementioned experts to assess the shares, 96.89%, of the company linked to Málaga Nas Spain 2000, owned by Sheikh Al Thani, and BlueBay, which owns 49% of it, and whose value amounts to the amount of 44,325,151 euros. The judicial administration considers that this appraisal is excessive. Another link in a process that, it seems, is going to extend over time.