TIRANA, Sept. 12 – One of Albania’s eldest clubs, KF Elbasani, has been taken over by a Switzerland-based company, becoming the first Albanian club whose majority stake is owned by foreign investors.
Switzerland-based Level Up SA has acquired a majority 54 percent stake held by the local municipality for a reported 50 million lek (€363,000) in KF Elbasani in a deal expected to bring the central Albanian club, currently playing in the First Division to the highest levels of Albanian football after being demoted from the Albanian Superliga in 2015.
Level Up SA, a Switzerland based management consulting firm which the club owners have introduced as British investors, is expected to take full control of the club with the acquisition of another 46 percent stake held by the club’s current president, businessman Arben Laze.
Elbasan Mayor Qazim Sejdini says the arrival of the British investors will be a good opportunity for Elbasani to be promoted to the Albanian Superliga and set up a youth academy at Elbasan to serve the younger generations.
“There’s great interest as having an established academy means this football academy will serve to all generations who have a passion for sport,” he has said.
It’s a decade since Elbasani last won the Albanian top league adding to a previous title in the early 1980s. The central Albanian club came fourth in last season’s First Division Group B and could be a favorite to make it to the Superliga in case of more investment.
