City Football Group agree deal for Lommel SK
By Ric Turner, Wed 13 May 2020 15:22
Belgian second division side become ninth club under group umbrella
City Football Group (CFG) have agreed a deal for Belgian second division side Lommel SK, who become the ninth club under the CFG umbrella. The club's £1.75m debt will be wiped out as part of the deal.
"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," said CFG chief executive Ferran Soriano.
"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."
Paul Kerkhofs, who will sit on the new board, commented: “We are delighted that City Football Group has chosen to acquire Lommel and ensure the future of our Club. We are extremely impressed with their philosophy, track record and approach and look forward to working together to take the Club forward.”