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Following the RWD Molenbeek purchase, 11 Belgium clubs are now under foreign ownership

Overseas investment into Belgian football has been on the rise in recent years, with RWD Molenbeek and KMSK Deinze the latest clubs to be acquired by foreign owners.

12 Belgian clubs have now sold stakes to foreign investors. Of these, four are based in the United States, with stakes held by individuals or groups from 10 other nations.

Six of the clubs with overseas shareholders are in Belgium’s second tier, Pro League B, which consists of only eight clubs in total. Pro League A’s Club Brugge sold a 23.3% stake in July 2021 for €30m to US media- and entertainment-focused investment fund Orkila Capital, setting a valuation of €128.8m on the 2020/21 league winners.