Belgian top tier club Gent look to private equity for new money

February 13 – Belgian club KAA Gent have been put up for sale and could become the latest to end up in foreign ownership.

Bloomberg reports that the Flemish club has appointed British investment firm Tifosy to find investors. Founded by Fausto Zanetton, Tifosy is going to market with the pitch of “a unique opportunity to take over an iconic, stable and well-run Belgian club in the first division of football.”

Since 1999, the club has been led by Ivan De Witte, who leads HR company Hudson Benelux. He controls 25 % of the shares while club CEO Michel Louwagie has 15% of shares. All the other shares belong to minority shareholders.

From Saudi Arabia to the United States, Belgian top flight clubs have become popular among foreign investors, but Gent mayor Mathias De Clercq is keen to keep the club a part of the local community.

He wrote on social media that ‘The fact that KAA Gent is for sale does not come as a surprise, but it touches me as a mayor and buffalo. For us as a city, it is very important that the strong local anchoring and the social aspect of the club, including the KAA Gent Foundation, is not lost. That is why we ask the club to remain closely involved in the further plans. We want absolute guarantees that this local anchoring is maintained when the club is sold or participating.’

For the financial year 2022, AA Gent recorded a loss of €7.5 million euros. Previously head coach Hein Vanhaezebrouck had commented: “You have to put everything in perspective. We are very dependent on our supporters and they were not allowed to visit our stadium for two years. That cost us a lot of money. That is why the club is also looking for financial input.”

The club built the state-of-the-art Ghemlanco Arena to boost revenue and upgrade infrastructure. The 20,000-seater stadium was inaugurated in 2013 and saw Gent win a maiden league title in 2015. A stellar Champions League campaign followed, reaching the knockout stages of the competition in in the 2015-16 season. The club are currently fifth in the Belgian top flight.

Contact the writer of this story at moc.l1711657618labto1711657618ofdlr1711657618owedi1711657618sni@i1711657618tnuk.1711657618ardni1711657618mas1711657618