Fans take over 10% in major Romanian football club, seek new investor

Supporters of the Romanian football team FC Dinamo Bucharest announced on January 31 that they bought 10% of the football club controlled by local businessman Ionut Negoita, Profit.ro reported.

FC Dinamo faces financial problems after owner Ionut Negoita announced that he would no longer finance it.

The supporters, who created an investment vehicle - Dinamo București Only (DDB) - to take over the 10% stake, assured that the association will support the club until a major investor shows up.

In the short term, the association is going to pay the overdue salaries to the players.

"The real accomplishment would be to help the club recover and attract a strong investor so that Dinamo returns to where it belongs,” DDB said in a press release.

"Following the voting session held these days, after expressing the majority of the contributing members in favor of the proposal of the DDB board, yesterday January 30, 2020, in front of the notary, the representatives of FC Dinamo and the representatives of the DDB Program signed a historical act by which the supporters took 10% of the shares of the Dinamo Club.

At the same time, the sums collected up to that time through the DDB Program were transferred to the club," reads the statement of the DDB board.

The association has raised some RON 500,000 (over EUR 100,000) from donations from Dinamo fans.

(Photo: Douglas Mackenzie | Dreamstime.com)