City Football Group (CFG) has acquired Eerste Divisie club, NAC Breda, which will become the 11th club owned by the Abu Dhabi group.
The Netherlands-based second division side already has a long-term collaboration with the firm, and an agreement has now been reached subject to approval by the Supervisory Board, NOAD Foundation, the KNVB and the municipality of Breda.
With this, the sales process is entering the final phase and the shareholders and CFGassumes that preparations for the new season can be started in the short term.
A statement by NAC read: “Although you are not used to us providing insight into the sales process in this way, we believe we should and can do so now. Until reaching an agreement with City Football Group, we were bound by formal frameworks, including exclusivity.
“Now that this is no longer the case, we hope with this message to provide more clarity about the exciting sales process so far.
“This is also the express wish of the shareholders, who have always been looking for a buyer to whom NAC can be transferred in good hands and with confidence. In addition to their own criteria such as price and takeover conditions, this has always been a condition for them.
The club also expressed that Nac Breda’s shareholders have opted to sell their stakes in the team to CFG, which is now beginning preparations for the new season, as the group builds on its current 10-club portfolio.
As well as the Premier League’s Manchester City, CFG also owns New York City FC of Major League Soccer (MLS), Melbourne City in the A-League, and Spanish side Girona.
Nac Breda remain 9th in the league and are due to play Jong Ajax next week at home, after having won four out of the past five games.