The Royal Emirates Group of Companies will take over Getafe from July 1, 2012, Torres said. He added that the group planned to invest up to $130 million so the club regularly finishes in the top six in the Spanish league to play in European competitions.
“Since we want to be different and we don't want to go into debt, we went looking for investment,” Torres said from the club's stadium, Coliseum Alfonso Perez. “So Royal Emirates is the new team owner since they bought out 99.3 percent.” The group announced the acquisition of Getafe last Thursday with Torres present at the news conference in Dubai. However, the club president told reporters upon his return to Spain a day later that it hadn't been sold.
“You find yourself there during Easter holidays with all those cameras and people showing no respect, I didn't see why I had to confirm anything,” said Torres, adding that he also wanted to wait until after Monday's stockholders meeting before commenting.
Torres, who plans to remain at the club, said the team's budget would rise 40 percent from its current $66 million and denied that the team logo will change.
Sheik Butti bin Suhail Al Maktoum, the chairman of the group, has said that Team Dubai” would be added to the team shirts, stadium and other merchandise.
Getafe is currently 14th out of 20 teams in the standings.
