"It is Getafe... we will announce it in a big way tomorrow," Suleiman al Butti, project manager of Royal Emirates Group, told Reuters.
Early reports had indicated that the club in question was Real Zaragoza and suggested that the cash-strapped outfit would be renamed 'Team Dubai' but a spokesman denied that rumour to ESPNsoccernet and said: "It is a Spanish La Liga division side. The team will not be renamed but it will be titled as '[club's name] Team Dubai' in order to deliver the message that Dubai care."
Getafe Team Dubai seems likely to be the new monicker, and the club's chairman and a number of players are due to arrive in Dubai on Wednesday and the grand announcement is set to be made on Thursday.
The deal would be the third for a La Liga club involving a non-Spanish buyer in the past year following the sale of Malaga to a member of the Qatari royal family and the purchase of Racing Santander by an Indian businessman. Getafe are 14th in La Liga, and in danger of relegation. In recent years, Getafe have twice been runners-up in the Copa del Rey, and reached the UEFA Cup quarter-finals in 2007-08.
Last season saw them qualify for the Europa League but the team, managed by Real Madrid legend Michel, exited the competition at the qualifying stage to Cyprus APOEL.