Royal Emirates Group, a consortium based in Dubai, paid between 70 million to 90 million euro (100-130 million dollars) for the Spanish La Liga club Getafe local media reported on Friday.
The sale of Getafe was announced on Thursday, but the sale price was not mentioned.
However, Sheikh Butti bin Suhail Al-Maktoum, Board Chairman of the Dubai consortium, is quoted in Al-Ittihad newspaper as saying that the price was between 70-90 million euros.
"It is a source of pleasure for us to sign this contract with Spain's first division side Getafe and the addition of the name Team Dubai is a proud moment for Dubai. It will surely improve relations between the UAE and Spain," Sheikh Butti was quoted as saying.
The official signing of the contracts for the sale was attended by Angel Torres Sanchez, president and owner of Getafe, and Kaiser Rafiq, general director of Royal Emirates Group.
Rafiq said that Team Dubai will be added to the club's name on shirts, stadium and other merchandise. The new logo features Getafe's name above Team Dubai in blue.
Rafiq promised to "invest heavily" in Getafe and "promote the club in the Middle East."
Getafe - who reached the quarter-finals of the UEFA Cup in 2008 - are currently 14th in La Liga and not yet out of relegation danger.
They are the third Spanish club to be bought by foreign owners. Last year, Malaga were purchased by Qatari sheikh Abdullah al Thani. In January Racing Santander were bought by Indian billionaire Ali Syed.
The sale of Getafe was announced on Thursday, but the sale price was not mentioned.
However, Sheikh Butti bin Suhail Al-Maktoum, Board Chairman of the Dubai consortium, is quoted in Al-Ittihad newspaper as saying that the price was between 70-90 million euros.
"It is a source of pleasure for us to sign this contract with Spain's first division side Getafe and the addition of the name Team Dubai is a proud moment for Dubai. It will surely improve relations between the UAE and Spain," Sheikh Butti was quoted as saying.
The official signing of the contracts for the sale was attended by Angel Torres Sanchez, president and owner of Getafe, and Kaiser Rafiq, general director of Royal Emirates Group.
Rafiq said that Team Dubai will be added to the club's name on shirts, stadium and other merchandise. The new logo features Getafe's name above Team Dubai in blue.
Rafiq promised to "invest heavily" in Getafe and "promote the club in the Middle East."
Getafe - who reached the quarter-finals of the UEFA Cup in 2008 - are currently 14th in La Liga and not yet out of relegation danger.
They are the third Spanish club to be bought by foreign owners. Last year, Malaga were purchased by Qatari sheikh Abdullah al Thani. In January Racing Santander were bought by Indian billionaire Ali Syed.
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