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."
Hefty investment by Al-Thani, a member of the Qatar royal family, helped Malaga qualify for the Champions League for the first time last season, but their preparations were disrupted by cashflow problems and reports the Sheikh wanted to sell after only two years.
After offloading Spain midfielder Santi Cazorla to Arsenal and Venezuela striker Salomon Rondon to Rubin Kazan, the club has brought in players including United States defender Oguchi Onyewu and Paraguay striker Roque Santa Cruz.
Shatat said they had promoted marketing expert Vicente Casado to director general and appointed Argentina-born Mario Armando Husillos, a former Malaga player, as the first team sporting director.
"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."
Malaga have made a solid start to the season on the pitch.
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.
They get their campaign underway on September 18 at home to Russian side Zenit.
- Sheikh Abdullah