This archive report was first published on 24 August 2020.
Malaga's financial woes have led to a new low for the team, which once aspired to be among Europe's top sides. The club is making some first-team players redundant in a bid to improve its finances.
According to a statement from Malaga, the redundancies are part of a new financial plan aimed at taking the club out of its complicated financial situation. The statement read, 'This new restructuring is part of the new financial plan that hopes to take the club out of the complicated financial situation it still finds itself immersed in despite recent efforts.'
The club hopes that season ticket holders and supporters will understand and support this new move, which is aimed at bringing hope to the club once again. However, the statement did not specify how many players would be affected by the redundancies.
Spanish newspaper Marca reported that 10 players would be forced to depart, citing a pay cut of at least 80% as a condition for remaining with the club. This would mean a salary of no more than 200,000 euros ($236,480.00) per year.
Malaga's financial struggles began after Qatari businessman Abdullah Bin Nasser Al Thani's money ran out in 2010. The club was bought by Al Thani in 2010 and enjoyed a successful period, finishing fourth in La Liga in 2012 and qualifying for the Champions League for the first time.
However, the club's fortunes declined after Al Thani's money ran out, and they had to sell their best players to meet the league's financial regulations. Despite this, Malaga reached the Champions League quarter-finals in 2013, where they came close to beating Borussia Dortmund.
Further player departures, including Isco and Joaquin, soon followed, and the team's fortunes continued to decline, culminating in relegation from the top flight in 2018. They finished in 15th place last season.
In February this year, a regional court removed Al Thani as president for six months on a series of charges, including alleged illegal appropriation. Judicial administrator Jose Maria Munoz was put in charge of the club.
