April 20 – Dutch giants PSV Eindhoven are looking to raise €50 million in the coming months with billionaire Robert van der Wallen, a member of the supervisory board, driving the capital raise.
The club has said that it needs new finance if it is to remain competitive within the Eredivisie, but has shelved the idea of going public via a share offering, instead looking to raise money against its existing assets.
“This will be done through a new mortgage on the stadium and an extension of the partner fund,” wrote PSV in a statement. “The management expects to strengthen the competitive position nationally and internationally through this choice.”
The new cash would be used to update the clubs facilities, including the stadium, with the club emphasising it will not relinquish control to a third party.
“Together with the PSV management, we are investing a lot of time in monitoring and improving our position. It is now time for us to take the next step with PSV, creating the conditions for remaining a successful club in the future,” said Van der Wallen.
PSV are currently sitting in second place in the Eredivisie, trailing leaders Ajax by 11 points. The Eindhoven-based club won the European Cup in the 1987-88 season.
Contact the writer of this story, Samindra Kunti, at moc.l1734961706labto1734961706ofdlr1734961706owedi1734961706sni@o1734961706fni1734961706