The Ayuntamiento de Mijas has signed an agreement to dissolve the bankruptcy of the Hipódromo Costa del Sol Racecourse
The City Council has signed an agreement to end the bankruptcy of the Mijas Hipódromo and achieve ownership of the land, after taking the company Mijas Recursos Turísticos into bankruptcy in May 2018, which will allow the launch of a new sports project, announced the mayor, Josele González.
The councillor stressed that “this is a historic day, and after almost 5 years of bankruptcy, we have managed to take the final step so that the land of the old Costa del Sol Hippodrome once again becomes municipal ownership.”
González emphasized that this agreement would enable the development of sports facilities on the 300,000 square meters of valuable land in Mijas, which are strategically located and in high demand. The mayor of Urban Planning, Andrés Ruiz, expressed the significance of this historic milestone after six years of effort to maintain ownership of the Hipódromo plot, which would benefit the people of Mijas.
Ruiz acknowledged the challenges faced by the government team in overcoming disputes over governing board agreements, partial plan modifications, and parcelling projects to classify the land as a sports complex.
The head of the Mijas City Council Legal Department, Eduardo Aguilar, highlighted the lengthy and tedious procedure and expressed his gratitude to his predecessor, Pepe Almenara.
Aguilar explained that the bankruptcy proceedings were still ongoing, but with the compensation received by Mijas Recursos Turísticos, the bankruptcy would be lifted due to unforeseen solvency. Once the bankruptcy is lifted, the physical and legal purification of the property will take place, paying off all the recognized debtors, including the Consistory of Mijas, and entering the liquidation phase.
The signing of the agreement would enable the payment of the debt to the creditors of the Mijas Recursos Turísticos Public Company, including the Local Administration, thanks to the resolution of the discrepancy in the plenary session on the availability of 6.7 million euros to settle the bankruptcy. The Consistory will conduct an audit to evaluate the current state of the facilities, control access and use, and increase security.
The racecourse attracted punters and fans from all along the coast in its heyday and was also hugely popular with locals and tourists of all nationalities.
As an equestrian centre, there were plenty of courses available plus riding lessons and competitions.
Another main attraction was the use of the racecourse for music concerts. Sir Elton John and Rod Stewart were among the many famous performers that appeared at the venue.
