Permission granted for British buyout of Mallorca footbal club

Permission granted for British buyout of Mallorca footbal club
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By h.b. - Oct 15, 2008 - 8:42 AM

Vicenç Grande (left) and Paul Davidson - Photo EFE

The deal is reportedly set to have a price of more than 40 million Euro.

Mercantile Court 1 in Palma has authorised the sale of 91.24% of the capital of the Real Club Deportivo Mallorca football club to the British businessman, Paul Davidson. The news came in a statement from the Balearic Island High Court of Justice.

The deal saves the club which had filed for bankruptcy protection last June as presented by the previous owner Vicente Grande.

Sources say the sale will go ahead at a price of more than 40 million €, taking the club into foreign hands for the first time.

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