Investing.com - Benfica has informed US investor Tim Leiweke that it cannot allow him to acquire a stake in the Portuguese football club due to his investments in other European teams, according to reporting from Bloomberg, citing people familiar with the matter.
Leiweke’s fund agreed in April to buy a 16.4% stake from Jose Antonio dos Santos, Benfica SAD’s second largest shareholder, as part of a broader strategy to buy minority stakes in European football clubs through his fund Entrepreneur Equity Partners. The board has told representatives for Leiweke and dos Santos about its decision.
Benfica officials previously raised concerns about Leiweke’s investments in other European football clubs, including Italy’s Venezia FC. The club’s statutes gives it the right to block acquisitions of stakes above 2%.
Benfica relied on the same bylaw in 2021 to block US investor John Textor from buying a 25% stake.
No final decision has been made and an agreement could still be reached, the people said.
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