Romania’s Cluj seeking investment to break into European elite
20 Jun 2013
Leading Romanian club CFR Cluj has announced that it is seeking fresh investment as owner Árpád Pászkány attempts to establish the Transylvanian outfit as a stable member of Europe’s elite.
The KPMG Sports Advisory group is managing the investor search process and Pászkány has revealed that initial interest has already been shown from China and the Middle East. Cluj was struggling in the third tier of Romanian football when Pászkány took over in 2001 to save the club from bankruptcy. Cluj was promoted to the Liga 1 within three years and has since won the top division title in 2007-08, 2009-10 and 2011-12, along with the domestic cup competition on three consecutive occasions from 2007-08.
“Thanks to the participation in European level competitions and earnings achieved on player development and transfers, we run a profitable business,” said Pászkány. “We got close to the European elite, and now we want to take a stable place amongst them. For that step, however, we need one more push.”
Pászkány has invested over Eur100 million into the club he has supported since a child and is looking for a financial partner to help further develop and strengthen Cluj. He added: “I spent over a decade focusing on elevating the team by spending a lot of energy, time and money to fulfil my dream. Now I have to be realistic – I know that I cannot move forward alone.”