STICHTING FEYENOORD GOES PUBLIC

Today’s Feyenoord Krant reports that the club will officially become a public limited company on 1 May. The club currently takes the form of a foundation, a special kind of association without shareholders. The new form is called a naamloze venootschap or Public Limited Company (NV), with a Supervisory Board (Jorien van den Herik, Willem Scholten and Paul Smits) and a Management Board, comprising the three members of the current board Jan Willem van Dop (43), finances, general affairs and safety; Sjaak Troost (44), commercial affairs and Mark Wotte (43), technical affairs.

Jorien Van den Herik will head up the Supervisory Board as its chairman and delegated member. His will be the managerial and coaching role he has fulfilled since 1991. Jan D. Swart (58) will continue to act as coordinator between the Supervisory Board and the Management Board when Van den Herik is out the country manager.

The new legal structure has a number of advantages for the club. ‘A public limited company provides Feyenoord with a more professional face in comparison to a foundation, especially for our discussion partners,’ explains Jorien van den Herik. ‘Specifically banks, especially foreign banks and other partners. In addition, an NV also comes with a number of tax opportunities that do not exist for a stichting. The NV form is more flexible in that regard and it means we fulfil modern notions on how companies should be managed. But the most important reason for me is that you cannot give the direct daily responsibilities to a board that isn’t present every day.’

The public limited company also opens up share ownership to third parties, and it can be a rung on the ladder to the stock market. ‘But there are so snags that I don’t envisage this happening in the foreseeable future. But if the time does come there will at least no longer be any legal obstacles,’ confirms Van den Herik in the latest issue of the Feyenoord Krant. 

All in all the restructuring is more of a legal nature than a practical one. ‘There’s no change on the workfloor and there are no economic consequences. On the other hand, we have complied with the board’s wish to give Feyenoord a younger, more dynamic face. It’s all about the continuity of our club.’

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