South Korean Sports Marketing Firm Sportizen Acquires Belgian Football Side AFC Tubize

Seoul-based sports marketing company Sportizen on Monday signed off on a deal to "acquire the second-division Belgian club" AFC Tubize, according to YONHAP. The company claimed it is the "first South Korean firm to take over a European professional football club." Financial details of the deal "were not disclosed." Sportizen said that it "wanted to delve into a new arena in its field." Sportizen CEO Shim Chan-koo said, "We've been preparing for this sort of business model for more than five years. At first, we had several clubs in the fold, and we've been able to build trust with AFC Tubize and their management." Shim added that he liked Belgium's "location as the center of Europe and also the fact that the Belgian pro leagues don't impose a cap on the number of foreign players that each club can acquire" (YONHAP, 8/4).