President puts Spanish club Getafe up for sale

May 29, 2008

LONDON, May 29 (Reuters) - Spanish Primera Liga football club Getafe is up for sale for about 40-50 million euros ($62-78 million), club president Angel Torres told Reuters on Thursday.

Several UK and Middle Eastern groups had already shown interest, Torres said.

"We want to sell because we've been here quite a long time," he said, adding that he had no clear preference as to a buyer.

Torres said that he and two partners own 100 percent of the club but he declined to name them.

London-based investment bank Seymour Pierce was looking for a buyer, a person familiar with the situation said.

Torres bought the Madrid-based club seven years ago when it was playing in the Segunda B (third tier).

The club was now in the top flight and had delivered profits for five years, Torres said.

Getafe reached the quarter-finals of the UEFA Cup in their debut in European competition this season and got to the final of Spain's King's Cup for the second year in succession.

They finished in 14th place in the table five points above the relegation zone to ensure a fifth successive season in the Primera Liga.

Former Denmark international Michael Laudrup stepped down as coach at the end of the Spanish season and the club have yet to name a replacement.