PALMA
BRITISH engineering tycoon Paul Davidson flew back to Majorca yesterday with news of his purchase of Real Mallorca one of the top sports items on the morning sports radio shows and the lunchtime Spanish TV news.
The big and defining development came late on Thursday night when chairman Vicente Grande signed the exclusive agreement to sell 91.2 percent of this 93 percent stake in the club to Paul Davidson for 38 million euros.
The British businessman's purchase agreement had already been handed over to the judge presiding over Grande's insolvency case but yesterday morning he was handed the completedsale/purchase agreement after it was given the all clear by the three administrators acting on behalf of Grande's creditors which are owed an estimated 700 million euros.
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