Milenijum tim takes over management and financing of GFK Dubočica in Leskovac
Milenijum tim has taken over management and financing of GFK Dubočica through a public-private partnership. The city of Leskovac retains a 30% stake in the new sports-business company and will continue to spend up to 35 million dinars a year on youth development.
What matters
New model
Milenijum tim officially took over club management and financing through a new sports-business company.
Leskovac’s stake
The city retains 30% of the company and, according to the mayor, remains involved in decisions.
Loans become capital
The parties said the company’s earlier loans will be converted into founding capital, so the club and city will not have to repay them.
Breakdown by publication
How sources frame this story
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Milenijum tim takes over GFK Dubočica’s management and financing
Danas reports that Leskovac mayor Goran Cvetanović and company founder Ivan Bošnjak signed the agreements. The mayor said Milenijum tim’s earlier loans will be converted into founding capital, leaving neither the club nor the city obliged to repay them.
Overall takeaway
Danas reports the terms announced by the city and company: the private partner takes over management and financing, while Leskovac keeps 30% and annual youth-programme spending. The signed agreements are not reproduced in the article.
What this means for residents
City funding
Leskovac will continue to allocate up to 35 million dinars a year to the club’s youth programme.
The club stays in the city
The mayor said the club will keep its name, colours and tradition; an artificial-turf pitch and facilities for youth work were also announced.