NAC Breda shareholder shuns CFG sale for local Dutch ownership group

April 22 – Dutch club NAC Breda will not become a part of the portfolio of City Football Group (CFG) clubs after a backlash from fans saw the ‘golden share’ vote of the NOAD Foundation veto the sale. 

Last month, CFG looked to have agreed to take control of NAC for €7 million, but supporters protested against the arrival of the group, which owns, or partners with, ten other clubs around the world, including Manchester City, Girona, Lommel, Montevideo Torque, New York City FC and Mumbai City.

“After intensive discussions with both the City Football Group and two possible alternatives, the NOAD Foundation decided after careful and extensive testing to submit to the local plan of Nac Breda,” read a statement from the Dutch club.

In 2016, CFG and NAC, who play in the Dutch Eerste Divisie, signed a partnership agreement which facilitated the Dutch club to take City players on loan as well as exchange management and business know-how.

But fans objected to CFG deepening that relationship to a takeover of the club and the NOAD Foundation, who hold the power of veto over ownership deals, followed suit. They will shift the shares to an alliance of local businessmen ‘NAC=Breda”.

“We are very proud and grateful that the NOAD foundation has embraced our plan as a suitable alternative in this complex and long sales process,” said NAC=Breda in a statement. “Over the past period, we have worked with the greatest possible love and care on a detailed plan that should give NAC a healthy and stable future.”

It’s the third time that a takeover of Breda has fallen through after an American consortium and a local businessman failed in their bid to become the owners.

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