Union Sports & Entertainment today announced a strategic partnership and investment with Lyngby Boldklub of the Danish Superliga. Union Sports & Entertainment has purchased a minority, non-controlling ownership stake in Lyngby in order to expand its technical footprint, collaborate on youth development tactics and strategies and serve as a potential additional vehicle for both Union and Lyngby player and staff advancement. Lyngby’s current ownership will continue to operate the club and make decisions independently.
“We admire Lyngby’s achievements and are confident that we can assist each other through thought-sharing and strategic collaboration,” said Jay Sugarman, Union Sports & Entertainment Chairman. “Our process was driven by a desire to enhance the core strengths of our club and to better leverage the network Ernst has established in Europe. Our discussions and interactions have confirmed to us that Lyngby is a club that shares similar values and ambitions with the Union and we look forward to a mutually successful relationship going forward.”
“Over the past few years, we in the ownership group have spoken to more than twenty potential, specific investors, but for one reason or another we have turned down the offer. Now we have succeeded with our plans: A model where Friends of Lyngby remains the owner, but where we get a co-investor in the sporting area that matches our club. We think this is the right model for Lyngby Boldklub,” says Tommy Petersen, chairman of the board of Lyngby Boldklub A/S.
Lyngby Boldklub is a prestigious Danish club, founded in 1921, that has won both Danish championships and cup titles. The club is deeply rooted in the local community and is known for its extensive work with young talents. Over the years, Lyngby Boldklub has produced numerous players and coaches who are widely recognized in the football world. Examples include Yussuf Poulsen (RB Leipzig) and Thomas Frank (Manager at Brentford).
Union Sports & Entertainment LLC is the parent company of Major League Soccer team Philadelphia Union, Philadelphia Union II, the Philadelphia Union Academy, and Philadelphia Union Youth Programs. Union Sports & Entertainment LLC also owns or controls more than 100 acres of land along the Delaware River which is home to Subaru Park, WSFS Bank Sportsplex, Union Power Plant office building, and the Independence Blue Cross Training Center. Philadelphia Union and Lyngby have previously worked together when the Union signed Lyngby academy product Sanders Ngabo.
This is interesting. I wonder what the goal is here. Does it genuinely help recruit, sign or sell on players? Do we get discount loanees? More reliable home for players we’d like to put out on loan? Or is this just an overseas investment for Sugarman and Co.?
I would imagine part of this is a way to navigate visas and provide playing time for players that fit each team’s style. One team short of strikers and another with a surplus could help provide an outlet that is “in-network.” Look at what Man City does with Girona or any of the other teams they currently own and imagine a smaller scale.
Isn’t this the team that ngabo came from?
The Union have bought a piece of a team… in Denmark ?!?!?!?!!!
Nice to see Jay-Jay have his priorities straight. Yeah, they won Euro 1988, was it? Can somebody explain this insanity???
Hey, Jay, you’ve got a team in freefall, clutching to the final east playoff spot by its gods damn FINGERNAILS. Priorities?
You’re still a clown, Paul. Go home.
Sure, Jan ($1 to the Brady Bunch).
1992
I’m just wondering where Minority Stake fits on the striker depth chart. Ahead of Allocation Money but behind International Spot?
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In a vacuum and the long term, this might be a great idea and bear fruit. In the short term, when the purse strings were not opened at all to upgrade the roster from last year, it shows, again, how tone deaf this organization is to its fan base.
I sat with this for a little bit. It’s interesting in one sense because maybe it gives them a friendly outlet for academy kids or guys they’re interested in but aren’t ready for first team in Philadelphia.
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However, the deal does rub me the wrong way. It would be one thing if the Sugarman was investing the necessary money in the first team in the forms of transfer fees and salaries… but he’s not and never really has. The core needed reinforcements last year and certainly needs more this year, but I’m not foolish to expect for anything of significancy.
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And yet there’s money to buy into a foreign club.
I agree. I read Jonathan’s T’s interview with Sugarman and his comment that he hasn’t turned down any request that he has been approached with. That comment by itself is disingenuous. We all know that the club doesn’t invest. Do we really think that Ernst is going to go in there and ask for a 15 million dollar DP? This is usual BS. Call it what it is. Jim Curtin does come out honestly, although you can sometimes see that he wishes we spent more at times. If Sugarman really cared and had his pulse on things which he says he does, he would be proactive and say we need to spend money on a couple of key acquisitions. Does he say that?? No! He says he hasn’t turned down a request. Spin doctoring. I have seen it in my professional life and here we are again! At least have the guts to say that buying players is not as important as buying clubs. Milk the cow but don’t feed it with the right stuff.
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