foxsports
Spanish club Mallorca, coming off a fifth-place finish that
qualified it for next season's Europa League, has applied to go
into voluntary administration.
Majority shareholder Mateo Alemany says using the bankruptcy
law "is a solution, not a problem" for a club that has debts of a
reported 60 million euros ($77 million) and was "in danger of
disappearing."
Alemany says Mallorca will be able to compete in Europe next
season after receiving its UEFA license from the Spanish football
federation. It is unlikely that coach Gregorio Manzano continues
with the club, however.
Alemany says there are several interested buyers but he has
"little hope that a sale can be done."
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