Netherlands: City Football Group fails to acquire NAC Breda, which is instead sold to a local group

"After intensive discussions with both the City Football Group and two possible alternatives, the NOAD Foundation decided after careful and extensive testing to submit to the local plan of NAC=Breda," announced NAC Breda (Keuken Kampioen Divisie, Dutch second division) on 22/04/2022.

Wim van Aalst, Rob van Weelde and Paul Burema, the three main shareholders of the Dutch club, had decided to sell their shares (about 70% of the club's capital in total) to the owner of Manchester City FC (Premier League), on 23/03/2022. However, the agreement of the NOAD Foundation, which brings together several minority shareholders and has a veto right on any sale of the club according to local media, was necessary to complete the operation. Following the rejection of City Football Group by many fans, the NOAD Foundation has now chosen the NAC=Breda project, a group of local entrepreneurs.

"NOAD Foundation would like to thank the current shareholders again for saving the club in 2011 and taking care of our beautiful club over the past eleven years. Hopefully you will remain closely involved with this…