Football club Royal Antwerp have borrowed millions from the London-based hedge fund Fasanara to finance the construction of a new stand and support daily operations.
The team, owned by property developer Paul Gheysens, is struggling to become profitable, according to multiple sources cited by De Tijd on Thursday.
With Gheysens no longer investing directly in Antwerp, the club sought funding elsewhere.
Antwerp is confident it can repay the loan within approximately three years through revenue from season ticket holders and single-ticket sales, De Tijd reports.
The new stand, which the club says costs €12.5 million, is intended to aid in achieving profitability faster.
Antwerp declined to comment to De Tijd.
According to the newspaper, Fasanara has previously provided loans to other football clubs, including AA Gent and KV Oostende.
