Akademisk Boldklub Gladsaxe A/S has a new main shareholder
Gladsaxe, Denmark – Akademisk Boldklub Gladsaxe A/S (AB a/s) has today announced that the share capital has been acquired by Five Castles Football Group LLC (FCFG) for an undisclosed amount. The former main shareholder and chairman of the board, Torben Oldenborg, will remain involved in the club as a minority shareholder, vice chairman and will have a seat on the board. Ulrik Rasch, Chairman of the Board of Parent Club AB, will also become part of the Board. Since June 2022, Divisionsforeningen has implemented a new set of rules that new investors in Danish football clubs must comply with. These include transparency in investment cash flows and full disclosure. FCFG has been evaluated in accordance with the Danish Football Association’s circular with approval. The transaction has no debt or leveraged financial components. FCFG is an international consortium led by former New York Red Bulls’ CEO Erik Stover with funding primarily based in the UK and US. AB’s history was one of the main reasons for FCFG’s interest. The club was established in 1889 and was one of the key figures in the founding of the Danish Football Association. With 25 trophies, including nine Danish championships, it is a significant club in Danish football history. FCFG is fully committed to continuing to build on the divisional team with a core of Danish players and wants to maintain a playing philosophy with the attractive ball movement and attacking football that AB has always been known for. Torben Oldenborg says: “I have contributed significantly for many years to support AB through difficult times, but I recognize that there is a need for further investment to live up to the club’s ambitions. This must be done in the right way and with the right partner.” Oldenborg will also retain his position as Vice Chairman of the Divisional Association. “Since early summer, I have had many constructive conversations and meetings with FCFG’s promoters about a possible takeover. In addition to the significant capital injection, I have gained a very positive impression of both the new management and the ownership group. This is not least due to their extensive experience from international top clubs, which can now benefit AB. These are talented football people with a passion for the sport and a respect for the Danish football culture. I would also like to take this opportunity to say thank you for the support, hard work and help I have always received from shareholders, supporters, employees and volunteers.” “The parent club AB welcomes the new development-oriented initiatives that the new ownership group in AB A/S contributes with,” says Ulrik Rasch. “The ownership group’s competence, input and capital injection are crucial prerequisites for AB to be an active part of Danish division football in the future. We welcome AB A/S’ new owners to AB and look forward to a positive and constructive collaboration. The investment group includes key members such as football writer Ben Lyttleton, ClipperData co-founder Simon Young, former New York Cosmos CEO Jen Hsiang Chang, sports analytics consultant Andy Glockner and Dell talent manager Alex Lee. “We are excited about the opportunity to join a club with such strong traditions,” says Erik Stover. With 25 years of experience in the sports and entertainment industry, he will move to Denmark to become the new CEO of AB A/S. “Our plan is to be fully engaged in the local environment in Gladsaxe, which also includes AB’s members and supporters. We hope for support for our ideas and will learn from their experiences and expectations. This is a long-term investment plan exclusively in AB A/S, which will not be part of a multi-club strategy or a pilot scheme for an investment in a club elsewhere.” Biographies Torben Oldenborg Torben Oldenborg is 66 years old and self-employed. He originally trained in shipping and freight forwarding. He is chairman of the board, CEO and owner of companies in the following industries: Scaffolding, property rental & administration, restaurants, professional football, fashion clothing and other investments. He is a side judge in the labor court and has been a member of Akademisk Boldklub Gladsaxe’s board of directors since 2004, including several years as chairman and main shareholder. Former director in the Superliga and in the 1st division. Is a long-standing member of DBU’s Board of Representatives and Divisionsforeningen, where he is a member of several committees, Vice Chairman and representative of Divisionsforeningen in EPFL (European Leagues) Ulrik Rasch Ulrik Rasch is a Danish citizen with over 20 years of experience as CEO and Commercial Director, where he has led strong brands in industries such as electronics, fast moving consumer goods, media and entertainment (eg. Xerox, Harman International, Egmont/Nordisk Film and Storyline Studios. He is an experienced chairman and member of various boards mainly within the Nordic countries. His mindset is both commercial and operational as well as strategic and business development. Strategic, pragmatic and practically oriented through inspiring and motivating leadership. Chairman of the Board of AB since 2015. Erik Stover Erik Stover has over 25 years of experience from the sports and entertainment industry. He has been a senior executive with the New Jersey Sports and Exposition Authority and Qualcomm Stadium in San Diego. He has also served as CEO of Red Bull New York (MLS) 2008 – 2011 and COO of the New York Cosmos (NASL) 2012 – 2021. Some of the highlights with Red Bull include overseeing the construction and creation of the $200 million ($1.4 billion) Red Bull Arena. ($1.4 billion) and the hiring of Thierry Henry. For these achievements, he won the MLS Leader of the Year award in 2010. As Commercial Director of the New York Cosmos, the club won three NASL championships in four years while acquiring world-class players like Raúl, Marcos Senna, Nico Kranjčar and Juan Arango. Stover’s other business interests span roles as CEO of Match IQ Americas and was a consultant on renovations to Hinchliffe Stadium in Paterson, New Jersey.
