MOL Group Agrees to Buy Újpest FC

Deals

Ferenc Szusza Stadium, the home of Újpest FC.

Image by Aleksandar Kamasi / Shutterstock.com

Hungary's MOL Group has agreed to acquire a majority stake in local football club Újpest, the oil and gas company said on Tuesday, according to a report by state news wire MTI.

The transaction is expected to close at the end of April.

MOL, which is among the biggest backers of Hungarian football, said it could "do more for the success of Újpest FC as an owner".

"A strong Újpest can only strengthen Hungarian football further," said Péter Ratatics, MOL's executive in charge of retail services, who will represent the company at the club.

Újpest FC has been owned by the Belgian businessman Roderick Duchatelet for more than a decade.

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