Belgium: Cercle Brugge (2^nd div) accepts takeover offer made by AS Monaco (Ligue 1)

The board of Cercle Brugge KSV (BEL, Proximus League, 2^nd division) has indicated it will accept the bid from AS Monaco FC (Ligue 1), to acquire a majority stake of the Belgian club, on 28/02/2017. This takeover will be made by a "capital increase under certain conditions in the areas of finance, administration, and sporting cooperation," said Cercle Brugge. The takeover bid will now be forwarded to the association and the shareholders of SCRL which manages Cercle.

AS Monaco submitted its bid to acquire a majority stake of Cercle Brugge on 15/02/2017. "We emphasise that this agreement is intended to ensure the survival of Cercle Brugge in professional football. In addition, both Cercle and Monaco share the ambition to stablise the club, and return as soon as possible to the Jupiler Pro League," said the Belgian club on 28/02/2017.

• Cercle Brugge finished 8^th, out of 8 teams, in the first phase of the Proximus League, and 3^rd in the second phase.
  
  • The club will participate in a "play down" (six games) to avid relegation to the Belgian amateur first division.

"AS Monaco…