UAE investors could buy major Romanian football club Dinamo
Abu Dhabi Business Development, an investment group led by the Royal Family in the United Arab Emirates, reportedly wants to buy Romanian football club Dinamo Bucuresti. The investor has reportedly already sent an open letter to the football club, specifying its requirements.
Romanian investor Ionuţ Negoiţă, the majority shareholder of Dinamo, declared openly a few months ago that he was willing to sell the club for the symbolic sum RON 1.
Abu Dhabi Business Development wants the current shareholder to obtain the license for Liga 1 in 2020-2021, but also for Dinamo to remain in the highest league of the Romanian championship at the end of this season.
"We are pleased to inform you that Abu Dhabi Business Development is interested in acquiring FC Dinamo Bucharest (92.3% of the total shares), in accordance with our development strategy for the region. We are aware of the current commercial conditions for taking over the above mentioned package and we are ready to evaluate the fiscal year, as well as to analyze the legal and commercial diligence performed by our representatives. According to our forecast, the required internal approval may take approximately two months. In addition, you should note that, in order to complete the transaction, you will need to obtain the Liga 1 license for the 2020-2021 season and ensure day-to-day operational activities. It is also necessary for Dinamo to remain in Liga 1 next season,” according to the open letter quoted by Ziarul Financiar.