Englishman buys Mallorca

Real Mallorca are set to be bought out by Paul Davidson, an English millionaire who has amassed his fortune from the plumping industry. It is understood that Davidson is not even a football fan.

"DRAC has reached agreement in principle with the business and investment group presided over by Mr Paul Davidson for the aforementioned person to become the majority shareholder of Real Club Deportivo Mallorca SAD, with the firm desire to maintain and improve the position of the entity among the elite of Spanish and European football," the statement read on Mallorca's official website.

"The pre-agreement, which must be formalised in the coming weeks and which is subject to a period of due diligence, assumes, among other clauses, that the current president, Vicente Grande, will remain on and preside over the club board for at least the next five years."