Brera FC, Dublin-based Nasdaq-listed firm, makes ‘strategic’ move on Man Utd shares

Brera – which has its roots in Italy but is Irish-domiciled and listed on the Nasdaq in New York – publicly invited the club’s board to a briefing. Man Utd is currently up for sale, with a £5bn to £6bn price.

The company said it wanted to outline its own innovative “social impact football” business model and other value-building strategies to the English football club.

It began last week to acquire Man Utd shares through open market purchases, to a value exceeding $100,000.

Brera’s Dublin based firm is a holding company for Italian amateur team Brera FC, which styles itself ‘the third team of Milan’. In February, the Irish Times reported it had become the first Irish-based company to IPO on Wall Street since Dole in 2021.

At the time they said the IPO was aimed at raising money to make investments in other football clubs for “bottom-up value creation from sports clubs”.

In March, Brera established Brera Tchumene, aiming to play in Mozambique’s second division. The following month it acquired 90pc of Fudbalski Klub Akademija Pandev, which plays in North Macedonia’s first division.

Their $100,000 Man Utd move comes as Qatari banker Sheikh Jassim bin Hamad Al Thani made a fifth bid to buy the club, for a reported £5bn.

“We believe that our strategic investment at this time has potential for value creation and eventual realisation, and we look forward to briefing their board on ways to achieve that,” said Brera Holdings CEO Sergio Scalpelli.

Brera debuted on the Nasdaq at $4.82 and has since fallen to below $1.90, dropping almost 25pc over the past week.