Unprecedented: Egyptian businessman could acquire Hungarian football team

An unusual deal is on the horizon involving the NB II (the second tier of Hungarian football) football club, FC Ajka. An Egyptian businessman has expressed interest in purchasing the team, with reports indicating that he or his company has already signalled their intention to buy the club. While the mayor of Ajka, Béla Schwartz, has not confirmed all the details, the transaction appears to be moving forward.

The process began on 25 September, when Ajka’s city council unanimously voted in favour of a proposal for the municipality to purchase the 49% share of the company operating FC Ajka from the FC Ajka Sportegyesület. The purchase was made at face value for approximately HUF 1.5 million (EUR 3,737). With this acquisition, the local government now owns 100% of the club, having previously held a 51% majority stake, 24.hu reports.

Egyptian businessman sets eyes on Hungarian football team

According to information obtained by the news portal, this move was essential for the municipality to sell the Hungarian football club more easily to the Egyptian businessman or his company, who had already expressed an interest in acquiring it. The deal could also involve József Kiss, who was previously involved with the Veszprém LC football club around the turn of the millennium and now has business interests in Egypt.

The mayor refrained from providing specific details about the deal or its total value but did acknowledge that there have been expressions of interest from both Hungarian and foreign parties regarding the acquisition of the club. Schwartz emphasised that the sale was not intended to be a complete divestment of the club. The local government is open to working with a potential investor who could provide new opportunities for the team. “We do not plan to sell the entirety of the club,” he stated, adding that the buyer would be expected to bring fresh perspectives to the club’s future.

Only certain rights would be acquired

It is important to note that the sale would only include the rights associated with the team’s participation in NB II matches, such as the playing license and the rights of the players. The significant assets owned by the municipality, including real estate and other property, will be transferred to a newly established local company before the sale, ensuring that these are not part of the transaction.

When asked why the club is being sold, given the financial support available from the Hungarian Football Federation (MLSZ) and other funding sources such as the TAO (corporate tax allocation) system, the mayor explained that recent economic developments and proposed laws that might reduce municipal funds have prompted the city to seek financial sustainability for the team in the coming years. “The city has reached the limits of what it can financially sustain, and from next year, we will not be able to provide the necessary funding for the team’s operations,” Schwartz explained.

New owner to have an opportunity to bring a new vision to the Hungarian football team

The mayor also clarified that the city has consistently covered the operating and investment costs of the Hungarian football team for the past nine years, and there have been no unpaid debts to players or staff during this period. However, moving forward, the new owner will need to account for the costs associated with leasing and maintaining the stadium, as these expenses are included in the sale terms.

While the city council does not plan to relinquish complete control of the club, there are several ideas on how they could retain oversight. According to the mayor, the new owner will have the opportunity to provide a new vision for the club, but Ajka will still maintain an interest in the team’s direction.

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