Cuban-American billionaire Jorge Mas is new Zaragoza owner

The Real Zaragoza, a historic Spanish soccer team, will be acquired by a group of foreign investors led by two of the owners of Miami's Inter, the Spanish second division club said on Friday. Cuban-American billionaire Jorge Mas Santos is behind the American fund that has bought Zaragoza, El Heraldo confirmed.

The club said in a statement that a "diverse group of investors" had agreed to buy a 51% stake. The group includes brothers Jorge and Jose Mas Santos, owners of Inter Miami and former English soccer player David Beckham.

📯 COMUNICADO OFICIAL | Un grupo de inversores adquiere la mayoría del capital social del Real Zaragozahttps://t.co/OTQTgZvGL4

— Real Zaragoza 🦁🤍💙 (@RealZaragoza) April 8, 2022

The purchase aims to assume the debt of almost 70 million euros and carry out a capital increase of around 20 million euros to allow the team to hire a more powerful team. There are no plans to rotate the club's sporting staff for the time being. According to the newspaper El Español, coach Juan Ignacio Martínez will remain the team's head coach.

Other future owners of the Spanish club include Gustavo Serpa, president of Colombian club Millonarios, Joseph Oughourlian, president of French club Racing Lens, and investors Jim Carpenter and Jim Miller. In addition, Raúl Sanllehí, who has worked at Barcelona and Arsenal, will be the club's sporting director.

The acquisition is contingent that Zaragoza is not demoted to the third division this season and of Spanish authorities approving the purchase, the club said in its statement. Zaragoza, a former regular in Spain's top flight, a European Cup Winners' Cup winner and multiple Copa del Rey winner until it was relegated in 2013, currently ranks 14th in the 22-team second division.