Home from home for Manchester City fans in Magalluf!

The Palma-based Melia will retain the other 49 percent. It is one of the biggest foreign investment deals on the island, according to some sources. Melia is the leading hotel group in the Palmanova and Magalluf areas. Financial experts have said that the deal is not only good for both companies but for Magalluf as well.

The primary interest of the investment group is its 81% majority ownership of City Football Group, a worldwide organisation most notably controlling Manchester City, Mumbai City, Melbourne City and New York City, as well as several other international football clubs. However, it also holds interests in various other endeavours outside of the sporting world with an extensive property portfolio in the United Arab Emirates and Manchester.

The Melia Group and tennis ace Rafa Nadal own the Zel hotel in Palmanova which was opened in the summer of last year. The Melia Group is one of the biggest hotel chains in the world with a presence in many leading cities.