March 4 – Belgian champions Club Brugge having released plans for a public flotation on the Euronext market in Brussels.
“This is a historic step for the entire Club Brugge community and the logical next phase in its development,” said Brugge chairman Bart Verhaeghe in a statement addressing the forthcoming IPO.
“Club Brugge’s rich history and sporting track record are the foundation of an iconic, internationally renowned sports brand, which draws on a community of more than a million loyal fans.”
Credit Suisse Group AG, JPMorgan Chase & Co., Berenberg and Belfius Bank have been appointed to work on the IPO.
“Our vision is to continue to grow the club, building on the same history, work ethic and motivation that have made us such a passionate club,” said Verhaeghe. “During the next phase of our development, we will continue to focus above all on our fans, on-field performance and strong commercial management.”
A shareholder group led by chairman Bart Verhaeghe, Grizzly Sports NV, will sell part of its roughly 95% stake in Club Brugge but remain the majority investor. In some quarters the move is seen as the club president simply wanting to cash in. The Belgian club will join a number of other European clubs, who are listed on stock exchanges, including Ajax, Borussia Dortmund, Juventus and Manchester United.
This season, Brugge have again been dominant in the Belgian top flight. They lead the table on 63 points, 15 points more than second-placed Antwerp.
Brugge have been one of the few Belgian clubs, alongside Racing Genk, to have a maintained a positive balance sheet. In the 2019/20 season, Club Brugge generated €35 million profit. The reigning champions also have plans to build a 40,000-seat stadium to replace their outdated home base, the Jan Breydelstadion.
Contact the writer of this story, Samindra Kunti, at moc.l1713550674labto1713550674ofdlr1713550674owedi1713550674sni@o1713550674fni1713550674