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 ($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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