Osasuna president, Miguel Archanco has announced that Malaga has satisfied their outstanding debt for the transfer of defender, Natxo Monreal, which contributed the sanctions that have just been handed down by UEFA against the Andalusian club.

• By Tom Conn       Follow @TomConnISF

European football’s governing body, UEFA announced today that in accordance to their newly instituted Financial Fair Play rules, Malaga would be banned from European competition over the course of the next four seasons, should they qualify until they satisfy all outstanding debts by March 2013.

Malaga’s debt to Osasuna has been one of factors in UEFA instituting the ban, and contributed to the LFP’s decision to place a transfer ban on the club last summer.

However, Archanco announced at the club’s Christmas lunch that Malaga had satisfied all outstanding debts with the club, noting the remaining payment of the €200,000 promissory note the two sides agreed upon this past summer.

“Today, Malaga CF have satisfied all payment commitments to CA Osasuna, as today they paid €175,000.”

Malaga are now only €20 million in debt, and have announced the infusion of €7 million from club owner, Sheikh Abdullah Al-Thani to expedite the process of satisfying club debts and encouraging UEFA to release the Champions League winnings, which would go toward paying player wages and satisfying the remaining debts.