One of Denmark’s top soccer teams could sell all of its real estate assets, including its stadium.
FC Copenhagen owner Parken Sport & Entertainment is exploring a sale of its 38,065-seat Parken stadium, among other properties, with the intent of leasing it back.
The company valued its real estate portfolio at $208.3 million in November.
- The team is also looking to sell four office buildings near its stadium and two water parks.
- Parken’s stock leapt around 10% on Tuesday following the news.
FC Copenhagen is part of Denmark’s top soccer league, the Danish Superliga, which participates in the UEFA Champions League. In June 2021, the league joined eight others in bundling its overseas media rights into a package expected to secure $5 million to $20 million annually.
Parken Looking to Shift Gears
Parken earned $394.9 million in Q3 2021 revenue, a 102.3% year-over-year increase. The company may be righting the ship after a 35.1% revenue drop in 2020 led to a $209.1 million operating loss.
Parken’s $145.5 million in net income in the third quarter marked its first positive net income in 12 months, after losses of $33.7 million, $54.4 million, and $84 million the previous three quarters.
