New Delhi: India's leading industrial group Dempo, which also runs leading I-League football club Dempo FC, on Monday bought 34 percent stakes, worth 12 million euros, in leading Danish soccer club and academy FC Midtjylland, based in Herning and Ikast.
The deal is a long-term commercial and technical partnership between the parties, with the Dempo investment strengthening the club's capital base and in return the club providing technical know-how to Dempo.
"It's a historic day for FC Midtjylland and the start of a new era for the club. The agreement enables us to add value to the continuity of our soccer team and retain our own playing talent longer. We can enhance the level of talent development, and begin truly to internationalise the Academy", Soren Bach, CEO of FC Midtjylland, said in a statement.