Sports

Dempo, FC Midtylland Ink Deal

The Dempo Industrial Group has signed a Share Subscription Agreement with prominent Danish professional soccer club and academy FC Midtylland paving way for a long term commercial and technical collaboration between the Danish club and Dempo Sports Football Club.

As per the agreement Dempo Group will invest in the Danish club while they in turn will provide technical know how to Dempo Sports.

Dempos will be investing around Rs. 80 crore in the Danish club which will give them a 34 per cent stake in FC Midtylland Holdings besides giving them presence in its board.

FC Midtylland in turn will share its expertise in the game with the Dempo Sports Club and also help the company set up a football academy in Goa.

Chief Executive Officer of FC Midtylland Soren Bach said it was a great day for them as the investment from Dempos will help the club continue with their endeavour to enhance the talent in the game.

Srinivas Dempo, Chairman of Dempo Group said the agreement marks his company’s kick-off in international soccer.

The Share Subscription Agreement will come into effect following a final approval of the FC Midtylland Holdings shareholders scheduled to be held on 15th September.

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