Man City owners buy Belgian second division club Lommel SK but moves to expand into France stall

Man City owners buy Belgian club Lommel SK

Man City’s owners, the Abu Dhabi United Group, who have a majority stake in City Football Group (CFG), have now extended their club ownership into Belgium.

Man City have announced the CFG deal to buy Belgium second division Lommel SK on their club’s social media channels.

Welcome to the CFG family, Lommel SK! 👋

INFO: https://t.co/CFV8XjoFyd pic.twitter.com/p3Lbk4sg40

— Manchester City (@ManCity) May 11, 2020

 

How much did Lommel SK cost?

No precise figure has been provided.

However, the BBC have previously reported that that “CFG will wipe out the club’s £1.75m debt as part of the deal.”

Lommel SK were sixth in the Belgian second division when the season was ended because of the coronavirus pandemic.

 

Man City owners now have 9 football teams

CFG’s global footprint is now enormous as they’ve swelled their portfolio to nine clubs. They are:

• • Manchester City
  • New York City
  • Melbourne City
  • Yokohama F Marinos
  • Montevideo City Torque
  • Girona
  • Sichuan Jiuniu
  • Mumbai City

What impact will acquiring Lommel SK have on Man City?

At this stage, probably very little. But in the future, it’s possible that Lommel SK could become a feeder club for Man City.

FT journalist Murad Ahmed noted that “European acquisitions are more about player development than the money-making, brand-building efforts in US, China, India.”

Non-Covid sports news. Man City owners announce acquisition of Lommel SK of Belgian 2nd division. Becomes 9th team in City Football Group network of clubs. European acquisitions are more about player development than the money-making, brand-building efforts in US, China, India

— Murad Ahmed (@muradahmed) May 11, 2020

On the Man City website, Ferran Soriano explained the investment into Lommel SK:

We are excited to welcome Lommel SK to City Football Group and to work together with the fans and the city to develop the Club.

This investment is part of our long-term strategy to be present in key football countries, play beautiful football and develop talent.

We were attracted to Lommel’s culture, training facilities and commitment to youth development.

Lommel have €1,75m of debts, Anderlecht €94m. Lommel is a small club, a cheap option and ideal for talented youngsters. And they will follow the City line.

Would a household name like Anderlecht give up everything to be part of a group and risk not to play in the CL anymore? https://t.co/V4NIKfQgh1

— Kristof Terreur 📰🎥 (@HLNinEngeland) May 11, 2020

 

Could Ligue 2 side Nancy be the next CFG acquisition?

Earlier in the year, reports swirled that the City Football Group held discussions over buying Ligue 2 club Nancy.

However, Nancy president Jacques Rousselot told L’Equipe in April that those talks had stalled after the Covid-19 outbreak:

I am worried. I am on the frontlines. It was supposed to be done on 31st March. I had informed the smaller shareholders.

The general assembly was due to occur at the end of March for the deal to be closed. We have been in quarantine since 16th March and the negotiations have been suspended.

That does not mean that they have been stopped. This is not the end of the road. I will have to continue to look for resources, ways to find solutions to assure that the club can function.

L’Equipe also spoke to CFG about their interest in Nancy.

CFG confirmed their interest in the Ligue 2 side, saying:

We still want to acquire AS Nancy Lorraine, but we are facing a global crisis.

There are aspects today that we are not in control of. But we have not changed direction.

 

Also see: Man United, Man City & Wolves to benefit from UK travel quarantine exception as one UK MP mocks Kyle Walker.

UK government to allow Premier League restart on June 12 but so many questions still need answers.

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