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Debt-ridden Club Atlas goes on sale

October 29, 2013

Club Atlas, Guadalajara’s second biggest professional soccer franchise, has been put up for sale following a meeting of the heavily indebted club’s 124 directors on Monday.

Atlas is valued at around 60 million dollars, but the club owes over 20 million dollars and is at risk of relegation from Mexico’s first division, having won just one of 15 games this season.

There have already been several offers from potential buyers and a sale is expected to be confirmed at a second board meeting on November 18. One condition of any sale is that the franchise must remain in Guadalajara, where Atlas has been based since its foundation in 1916.

“We are looking to ensure that our institution remains in Guadalajara, that [the jersey] remains red and black, that they keep the same club shield and that the fans are guaranteed sporting success,” said club president Eugenio Ruiz Orozco.

Despite its debt, the club still has great potential. Guadalajara’s second biggest side after local rival Chivas, Atlas has a large, loyal fanbase and plays at the 63,000-seater Estadio Jalisco, the third largest soccer stadium in Mexico.

Atlas has only won the Mexican league title once, over 60 years ago in the 1950-51 season, and it has claimed second biggest domestic title, the Copa MX, on just four occasions, the latest coming in 1968. However, Atlas could finally end the long wait for silverware against Monarcas de Morelia next week, having made the Copa MX final, to be played in the Michoacan state capital on Tuesday, November 5.

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