More Indonesian Conglomerates Expand to Football Business

Despite having to spend much money and getting mixed results in return, Indonesian richest people keep investing in sports clubs, especially in football clubs. During the second half of 2019 alone, two Indonesian conglomerates opted to enter the European football business: Santini Group, owned by the Wanandi family, became the minority owner of Tranmere Rovers, while the Djarum Group, owned by Robert Budi Hartono, acquired an Italian club, Como 1907.

Santini Group’s move to purchase Tranmere Rovers, competing in the third tier of English football, was a bit atypical. The conglomerate was usually associated with automotive parts, infrastructure, and property industry. However, the details of the acquisition are unclear since the company, run by the sons of a senior tycoon, Sofjan Wanandi, refused to tell the exact numbers. On the other hand, Robert Budi Hartono and Robert Wijaya Suwanto jointly bought Como 1907 through SENT Entertainment. According to the information compiled by D-Insights, the acquisition value of the club, currently competing in Serie C, was relatively moderate, only about Rp 5 billion.