Published On: Mon, Jul 2nd, 2018

Israeli Billionaire Idan Ofer Bays Portuguese Soccer Club

Idan Ofer also owns a 32% stake in Spanish soccer team Club Atlético de Madrid. He plans to train young players and sell them to big European clubs

Israeli Billionaire Idan Ofer is adding a 51% stake in Portuguese second-tier soccer club Futebol Clube de Famalicão, according to Calcalist. Ofer plans to buy young players from Former Portuguese protectorates, train them at the team’s youth leagues, and then sell them to big European clubs.

Israel Corporation controlling shareholder Ofer also owns a 32% stake in Spanish soccer team Club Atlético de Madrid.

The son of Israeli shipping magnate Sammy Ofer, Idan Ofer, has acquired the team from the Famalicao municipality for few million euros. He also holds an option to acquire an additional 34% at the same valuation, Globes reports.

Former Portuguese protectorates can transfer players to Portuguese teams which can be considered a business opportunity for Ofer, Calcalist citing a source.

Back in November 2017, Ofer acquired 15% of Atlético de Madrid for 50 million euros ($59 million). in June, just six months later, Forbes valued the club at $848 million. In February, he bought an additional 17% stake in Atlético from China’s Dalian Wanda Group.

Idan Ofer ranks fifth is Israel’s richest people, according to Forbes. His business activities are mainly in shipping, drilling, and mining.

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