Malaga takeover deal is fabricated news, reveal George Clooney's allies

Amid reports of Hollywood star George Clooney’s takeover of Spanish side Malaga, The Atheltic have revealed that the reports are fabricated. It was earlier reported that the superstar was a part of a consortium that was willing to takeover the financially-burdened club.

Also Read | Malaga suspend coach Víctor Sanchez after explicit video emerges online

George Clooney-Malaga takeover is fabricated

Malaga, which currently plays in the Segunda division, is owned by Sheikh Abdullah Al-Thani. The president was suspended for illegal appropriation and improper management. However, despite various allegations, the president had valued his club at £86 million.

However, after knowing about George Clooney’s interest in the club, the president was willing to negotiate for an amount lower than his previous expectations. Clooney is known for investing in diverse areas and had also co-founded his own tequila brand that was later sold for £770 million in 2017.

Also Read | Malaga sack coach Sanchez del Amo over explicit video

George Clooney Malaga takeover: Club is facing financial issues

Since Malaga’s Champions League run in 2013, the club has suffered a severe decline at the domestic as well as the European level. The club were banned by UEFA for their financial mismanagement and hence missed out on Europa League action the following season. This led to the departure of several key players like Isco, Joaquin and Jeremy Toulalan.

Malaga’s struggle did not end as they were relegated to the Segunda Division after playing in LaLiga for 10 consecutive seasons. It is now reported that Malaga would be further relegated if they fail to fulfil certain financial requirements until the end of the season.

Also Read | LaLiga reports abuses hurled at Real Madrid captain Sergio Ramos during Osasuna clash

George Clooney Malaga takeover: Reports of establishing 'European Hollywood' are false

According to a report by Spanish publication AS, the American consortium had planned to make Malaga the hub of a new behind-the-scenes documentary. Head of Malaga’s minor shareholders Antonio Aguilera had also confirmed the rumours that talks were underway between the two parties. He had also claimed that there was a powerful production company that wanted to turn Malaga into ‘European Hollywood.’

Aguilera had also claimed that the consortium planned to film a series for Amazon and were negotiating with the club. However, the consortium was not willing to pay the amount that Al-Thani wanted. They were willing to pay a maximum sum of £30 million.

Also Read | George Clooney Set For Malaga Takeover Despite Spanish Side's Hefty Price Tag