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Brera Holdings Announces Exclusive Letter of Intent to Acquire and Re-Brand Mongolian Premier League Team Bayanzurkh Sporting Ilch FC
The acquisition, when finalized, will bring the Brera brand to Asia, adding a third continent to its successful football clubs in Europe and Africa DUBLIN and
About this update from Brera Holdings Plc
[{"type":"text","content":"The acquisition, when finalized, will bring the Brera brand to Asia, adding a third continent to its successful football clubs in Europe and Africa\nDUBLIN and MILAN, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Brera Holdings PLC (“Brera Holdings”, “Brera” or the “Company”) (Nasdaq: BREA) announced that its wholly-owned subsidiary Brera Milano S.r.l. (“Brera Milano”) has signed an exclusive Letter of Intent (the “LOI”) with Mongolia’s Bayanzurkh Sporting Ilch FC (“Bayanzurkh FC”) to acquire the club before the resumption of the football season in March 2024 after the winter break. Bayanzurkh FC, located in Mongolia’s capital Ulaanbaatar, was founded in 2020 and was recently promoted to the Mongolian National Premier League, the top-tier professional football league of Mongolia. Brera Milano intends to manage Bayanzurkh FC’s sports activities through the transformation of the club from a sports association into a limited liability company. The LOI is subject to rebranding the club with “Brera” in its name before the resumption of the football season in March 2024. The LOI was signed by Mr. Alessandro Aleotti, Chairman of Brera FC and a Director of Brera Holdings, and Mr. Chinsanaa Jargalsaikhan, Chairman of Bayanzurkh FC. Mr. Alessandro Aleotti, Chairman of Brera FC and Mr. Chinsanaa Jargalsaikhan, Chairman of Bayanzurkh FC The acquisition, when finalized, will bring the Brera brand to Asia, adding a third continent to its currently top-ranked Brera teams in Europe and Africa. Brera Strumica in the North Macedonian First Division and Brera Tchumene in Mozambique’s Second Division are both leading the standings in their respective leagues. In addition to Mongolia, Brera is exploring new opportunities in the Americas, potentially bringing Brera Holdings’ unique Nasdaq-listed multi-club ownership (“MCO”) model to an even broader global audience of investors and fans. “We are deeply committed to Brera as a global brand,” said Brera Holdings Chief Executive Officer, Pierre Galoppi. “And we think we can bring Italian-inspired football culture to other countries and continents to fully develop the potential of these clubs while we pursue our international vision,” Mr. Galoppi continued. “We firmly believe that our MCO model offers fans the opportunity to take ownership in the clubs they are passionate about, a privilege typically accessible only ...