DUBLIN and MILAN, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Brera Holdings PLC ("Brera Holdings", "Brera" or the "Company") (NASDAQ:BREA) announced that its wholly-owned subsidiary Brera Milano S.r.l. ("Brera Milano") has signed an exclusive Letter of Intent (the "LOI") with Mongolia's Bayanzurkh Sporting Ilch FC ("Bayanzurkh FC") to acquire the club before the resumption of the football season in March 2024 after the winter break.
Bayanzurkh FC, located in Mongolia's capital Ulaanbaatar, was founded in 2020 and was recently promoted to the Mongolian National Premier League, the top-tier professional football league of Mongolia. Brera Milano intends to manage Bayanzurkh FC's sports activities through the transformation of the club from a sports association into a limited liability company. The LOI is subject to rebranding the club with "Brera" in its name before the resumption of the football season in March 2024. The LOI was signed by Mr. Alessandro Aleotti, Chairman of Brera FC and a Director of Brera Holdings, and Mr. Chinsanaa Jargalsaikhan, Chairman of Bayanzurkh FC.
Mr. Alessandro Aleotti, Chairman of Brera FC and Mr. Chinsanaa Jargalsaikhan, Chairman of Bayanzurkh FC
The acquisition, when finalized, will bring the Brera brand to Asia, adding a third continent to its currently top-ranked Brera teams in Europe and Africa. Brera Strumica in the North Macedonian First Division and Brera Tchumene in Mozambique's Second Division are both leading the standings in their respective leagues. In addition ...