City Football Group has agreed the acquisition of Belgian second division Football Club, Lommel SK to expand its portfolio. The investment further grows CFG's global presence and focus on developing clubs, academies and players. As part of CFG's network of clubs, Lommel SK will contribute to and benefit from the sharing on knowledge and experience.
Lommel SK, currently in the Belgian second division, plays its home games at the city-owned 8,000 capacity Soevereinstadion in Lommel, the province of Limburg. Renowned for a strong Academy and focus on youth development, the history of the Club dates back almost a century.
Ferran Soriano, Chief Executive of City Football Group, said:
“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. Belgium is one of Europe’s best football countries as demonstrated by the success of the national team and the development of world-class players, some of whom we know very well, like Kevin De Bruyne and Vincent Kompany.
“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 and we look forward to learning from their approach and helping the Club to evolve in the months and years ahead.”
Last month, l'equipe reported that City Football Group were in 'advanced negotiations' with for investment into French Ligue 2 side AS Nancy suggesting that the significant increase in TV rights for French football is a likely factor in City Football Group’s interest in the country’s football clubs, with AS Nancy not the only side to have been approached by investors.
City Football Group want to increase their standing and influence in European football to help them with the balance of power in the continent's football, following Manchester City's recent UEFA ban.
The deal was set for completion in March, but talks were put on hold after the lockdown. With Ligue 2 now cancelled, it is unknown when the deal is likely to be completed but CFG may still be close to adding a tenth club to its portfolio.