Moroccan Businessman’s Rumored Interest in Spanish Club Sparks Concern

The rumors intensified after the release of images of the businessman Rayco García, the current chairman of the board of the club, in the company of the Moroccan Abu Azaitar, an MMA fighter, and Rosa Dávila, the president of the Cabildo de Tenerife. The release of these images has caused concern among the supporters and minority shareholders of the Tenerife club, which is in a critical financial situation with a deficit of nearly six million euros.

According to El Cierre Digital, Rayco García, who owns 14% of Deportivo Tenerife, would be behind this possible sale of the club. The 38-year-old businessman took over the chairmanship of the football club’s board of directors last December, succeeding businessman José Miguel Garrido Cristo, who holds 8% of the club’s shares. His management has been marked by controversial decisions, including the signing of coach Óscar Cano and the departure of key players. He is also accused of tax evasion in the Nummaria case.

Sources close to the club have told the Spanish media that behind this sale of the club "there are also real estate interests, as the club owns certain real estate assets that can be exploited in parallel and could bring a lot of benefits in the future." Experts consulted confirm that "the acquisition of CD Tenerife could be considered a ’good deal’ given the club’s situation" which risks relegation to the second division.

In his approach, Rayco García would benefit from the support of two major shareholders: businessman Juan Pelayo Duque, who controls 8.64% of the shares, and Egatesa, which holds 7.46%, for a total of 16.1%. The minority shareholders "are very concerned" about this possible sale. They hold 25% of the shares and their opinion will be decisive at the next extraordinary general meeting scheduled for February 20.

As for the Tenerife supporters, they fear a possible loss of identity and autonomy of their team with a potential takeover by a Moroccan. At the political level, this acquisition could be interpreted as a strategy by Morocco to strengthen its influence in the Canary Islands. Contacted by the Spanish media, Rayco García denies any link with Morocco and King Mohammed VI.