Cibona basketball club transitions to stock company under new majority owner

Basketball club Cibona has completed its transformation from a sports association into a sports stock company (KK Cibona d.d.). Canadian businessman of Croatian descent, Viktor Dodig, has become the majority owner with a 69.96 percent stake.

During the capital increase process, which ran from August 31 to September 25, a total of 1,730,100 euros was raised in cash, exceeding the legal minimum of 1.6 million euros. Dodig personally contributed 1,725,000 euros. Creditors also converted existing claims into capital and reserves totaling 4,306,100 euros, resulting in a total share capital of 3,459,600 euros.

Other significant shareholders include Turnover d.o.o. with 18.96 percent and the City of Zagreb with 6.1 percent. Dodig stated his ambition is to return the club to a high European level and create a strong organization with a clear management strategy.

On the court, Cibona secured a 100-84 victory against Zabok in their first home game of the new season in the SuperSport Premier League. Khalif Battle led the team with 21 points, while Vincent Trevon Mitchell added 17 points.