PLANS to spend €50 million on increasing the capacity of Malaga’s La Rosaleda stadium, as well as building a shopping area and even a five-star hotel in the grounds have been proposed by investors, BlueBay hotels. The presentation was put forward on April 5.
Having had a turbulent few years, BlueBay hotels are hoping to claim back their stake in the club and are currently in the midst of a legal battle against the current owner, the Qatar businessman Sheikh Abdullah Al-Thani.
BlueBay was already part of the management board in the club back in 2013, when they reached an agreement with Al-Thani to pay part of the debt owed by the club in exchange for a percentage of the club shares. Problems started when the owner and his advisors claimed that BlueBay did not comply with the terms of the contract and broke the agreement. As a response, the hotel company started legal actions against Sheikh Al-Thani in order to recover the agreed percentage of shares.
Consequently, this mega project by BlueBay will only be a dream for Malaga fans for the moment as the legal actions rage on, although a decision from the courts are expected soon.