Real estate chiefs buy out struggling Spanish football club

Two high profile real estate executives have swooped on a struggling Spanish football club, acquiring 99.7% of shares in second division side CF Reus.

Russell C. Platt, a founder of Morgan Stanley Real Estate and founder and CEO of of London-based Forum Partners, in partnership with Global Cities Capital chief Clifton V. Onolfo, have bought out the club, which was said to be on the brink of bankruptcy after failing to pay its players.

The property duo have also discussed plans for a new 18,000-seater stadium to replace the club's current 5,000-capacity venue, Estadio Camp Nou Municipal.

The Catalan side is currently languishing in La Liga 2's relegation zone, with just 21 points from 21 games.


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