July 2 – Belgian champions Club Brugge have a new backer, with investment fund Orkila Capital pouring €20 million of working capital into the club.
An announcement confirming the cash infusion also detailed a further €30 million acquisition of a 23% stake in the club.
“In addition, the investment group will acquire shares from the existing shareholders for a total value of €30 million euros. As a result, Grizzly Sports NV will continue to retain 71.89% of the Club Brugge shares and Orkila Capital will acquire 23.26% of the shares.”
Orkila Capital has a 15-year long track record in sports, media and entertainment in both the American and European market. The investment fund will help the Belgian club to grow intellectual property, digital strategies, content development as well as B2C strategies.
Grizzly Sports NV will hold the shares of chairman Bart Verhaeghe, CEO Vincent Mannaert, Jan Boone and Peter Vanhecke.
Verhaeghe said: “I am very proud to announce today a very clear, stable and bright future for Club Brugge. I am convinced that our experience in international football, combined with the extensive expertise of Orkila with their extensive portfolio, will provide a stable foundation to consolidate our growth in a rapidly changing football and business world.”
In spring, Brugge proposed a stockmarket listing of the club – the first Belgian club to do so -, however the IPO collapsed because of a lack of public interest.
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