Philadelphia Union ownership purchases stake in Danish club Lyngby Boldklub

Philadelphia Union parent company Union Sports and Entertainment has purchased a 10 percent non-controlling stake in Danish club Lyngby Boldklub.

According to the announcement, club ownership has an option to purchase an additional 10 percent stake. The purpose for purchasing the minority stake, according to the news release, is “to expand its technical footprint, collaborate on youth development tactics and strategies and serve as a potential additional vehicle for both Union and Lyngby player and staff advancement.”

“We admire Lyngby’s achievements and are sure that we can help each other through knowledge sharing and strategic collaboration,” Union majority owner Jay Sugarman stated. “Our process has been driven by a desire to strengthen our club’s core competencies and better utilize the network that Ernst Tanner has established in Europe. Our dialogue with Lyngby Boldklub has confirmed for us that they are a club that shares similar values and ambitions with Union, and we look forward to a mutually successful relationship going forward.”

Lyngby Boldklub is also the former club home of midfielder Sanders Ngabo, who has yet to feature for the first team but has made 9 appearances in MLS Next Pro for Philadelphia Union II.

Union Sports and Entertainment – formerly known as Keystone Sports and Entertainment – was previously reported to have been involved in talks to join an ownership group looking to bid on Danish club Aalborg BK.