KMSK Deinze appear to be in trouble. The Belgian second tier side released a statement a few days ago concerning their financial situation, with main shareholder ACA Football Partners facing ‘significant financial challenges‘, which has led to delay in payments. While players and staff are still receiving wages, it is other clubs and suppliers that have seen a delay in their payments.
Clearly, this is concerning for the club and its fans. On the pitch, they have started the season reasonably well under Hernan Losada and sit in fourth place. But the off the pitch issues cannot be ignored. Belgian football has seen plenty of clubs run into financial difficulty and then cease to exist. Just last season, Oostende ended up having to merge and drop down a few divisions to remain as a club.
ACA have a minority stake in CAFC. We don't know the size officially but it will be more than 5% as it has been declared. Rumours at the time of the takeover suggest that the stake is under 10% but no way to confirm that.
How much of a problem it is is not clear.
They will be expected to cover the losses equivalent to their stake. How much that is depends on the losses and their stake but we can guess that 10% of £8m is £800k.
If they can't or won't pay, which we don't know for sure as yet, then the other owners would have to cover that loss or budgets are cut to reduce the loss.
Multiple owners mean this can be spread across a number of parties but how keen they will be to dip even deeper into their pockets we just don't know.
On the other hand, if you have a spare £800k this might be a good time to speak to Charlie M.
Comments
There are the big three with reportedly 23% each - Rosenfeld, Brener and Friedman.
Global Football Partners – shareholders with 5%+ each:
Gabriel Brener and family – Private investor and former majority shareholder of a Major League Soccer team
Joshua Friedman and family – Co-Founder, Co-Chairman and Co-Chief Executive Officer of Canyon Partners, LLC, a leading global alternative asset management firm
Warren Rosenfeld and family – Owner of major US Recycling firm Calbag Metals
ACA Football Partners (acafp.com) – Singapore-based group that invests in football with a focus on building a foundation for sustainable growth
Munir Javeri – Founder of Connecticut-based investment firm Sahana Capital
Marc Boyan – CEO Miroma Group (global marketing, media and content company) and Miroma Ventures
Charlie Methven – Sports and leisure industry entrepreneur and adviser
Gavin Carter is also an owner and has been very active with the EPA and Advisory board but not sure what his stake is.
Boyen and Javeri aren't much heard about
https://acafp.com/
ACA Football Partners Pte. Ltd. (Singapore, CEO: Hiroyuki Ono, hereinafter ACAFP) announces that it has reached an agreement with a Europe-based investor regarding the transfer of shares in Deinze Football Club NV, which operates KMSK Deinze (Belgium Second Divison). The new owner will be officially announced once the approval process and condition precedents are fulfilled.
There have been multiple rumors and media exposure which caused unnecessary concern and inconvenience. Despite a very difficult time we have been through these months, we are glad to inform you that we have reached an agreement with an investor who is expected to bring stability to the club going forward.
We will provide further updates regarding the progress.
Thank you for your support.
Roland Out!