Getafe have denied that the Royal Emirates Group has bought the Spanish club after the Dubai-based company claimed on Thursday that a deal worth up to £110m had been completed.

Angel Torres, the president of the Getafe who had apparently signed off on the deal in the emirate, said: "I was in Dubai looking for sponsors. We signed a series of agreements and protocols. No one should doubt Angel Torres. Getafe has not yet been sold. First I have to inform the board of all the things that were done, then I will give a news conference."

Royal Emirates Group, which is chaired by a member of Dubai's ruling Al Maktoum family, had claimed that Torres and Kaiser Rafiq, the company's managing director, signed the purchase contract. A statement said: "Royal Emirates Group plans to invest heavily in inducting new blood and promoting the team in the region with the aim to make Dubai a transcending sky bridge between Europe and the Middle East."

Sheikh Butti bin Suhail Al Maktoum, the chairman, also claimed that the club would be renamed "Getafe Team Dubai".

Torres's move to distance Getafe from the deal comes as Rafiq was forced to explain why some entries on his CV did not appear credible. These included the statements that he has a doctorate from New York University, and a business degree from Yale University School of Management. Yet a NYU spokesperson said there was no record of Rafiq's attendance, while Tabitha Wilde, a director of media relations at Yale, also insisted that there was no record of his studying there. Rafiq blamed a "miscommunication" for the discrepancies.