Moayat Shatat said Malaga had appointed a new director general and a new sporting director as they push ahead with an "internal restructuring" that has seen the departure of some of their best players.
"We have invested a lot in this project and we have no intention of walking away," Shatat told a news conference announcing the appointments.
"We love this club and both Sheikh Abdullah and [vice president and CEO] Abdullah Ghubn support the project and are excited. The club is not for sale."
"The important thing is that there is a balanced investment to seek the best for the club," Shatat said.
"At no time have we said we are not going to continue investing. We will do so but in the way best suited to the club. We want to invest in the right places."
They came through their Champions League play-off at Panathinaikos last week before being drawn in Group C of Europe's elite club competition with AC Milan, Zenit St Petersburg and Anderlecht.
