From Como to Tranmere: Indonesian Tycoons' Footsteps in European Football

In recent years, several Indonesian entrepreneurs have injected investments into European football clubs. From Como 1907, which is mid-table in its first season in Italy's Serie A, to Tranmere Rovers, which is struggling to maintain its position in the fourth tier of English football.

Through acquisitions and strategic investments, Indonesian conglomerates not only strengthen their international business portfolios but also contribute to the development of the clubs they own.

Their presence not only strengthens the financial position of these clubs but also serves as proof that the nation's youth can excel, not only on the green fields of European football but also in the decision-making arenas of global football.

Five years ago, Como 1907 was merely a nostalgic memory for fans of Italian football. The club, which once experienced the rigors of Serie A, was more often in the news due to financial difficulties rather than achievements on the field. However, gradually, Como's image began to improve. Behind this transformation are the skilled hands of two brothers from Central Java, Robert Budi Hartono and Michael Bambang Hartono.

Since last competing in Serie A in 2003, the long journey of the club based in Como, Lombardy, has been fraught with challenges. After being relegated to Serie B, the deteriorating financial situation caused the club to sink even deeper. In 2017, Como was officially declared bankrupt and dropped to the amateur league, Serie D.

“The club faced a difficult period when financial problems led to relegation to Serie D,” wrote Como management on their official website.

However, a turning point occurred in 2019. Through the London-based business entity SENT Entertainment Ltd, the Djarum Group took over the ownership of the club. There was not much media coverage at that time. However, what SENT did after the acquisition demonstrated seriousness. It began with restructuring the financial foundation, building partnerships with city authorities and local partners, as well as investing in infrastructure and the development of the main team.

This step is not without risk. At that time, Como was still off the radar of elite Italian competition. However, for the Hartono brothers, success is not about instant results. With a strong background as industry players and owners of a wide portfolio—from banking to technology and media—the investors prioritize the principle of consistency over speed.

The name Dennis Wise, a former England national team player and Chelsea legend, has been appointed as CEO. He joins Michael Gandler, who previously served at Inter Milan during the era of Erick Thohir. Under Wise's leadership, the team has gradually risen. Promotion to Serie B has been achieved. This season, a new milestone has been marked with Como's return to Serie A.

There is no official information regarding the amount of funds disbursed by the Djarum Group. However, a report by Calcio Finanza in 2019 mentioned an additional capital injection of 8 million pounds sterling as part of the initial restructuring. Since then, investments have continued to flow, not only in the form of money but also in the form of modern management and long-term vision.

This track record has placed the Hartono brothers on the list of elite owners of football clubs worldwide. Forbes notes that with a wealth of 23.8 billion US dollars each, they have become the richest football club owners in Italy—surpassing prominent names such as Rocco Commisso (Fiorentina), the Saputo family (Bologna), and John Elkann (Juventus).

For Como, the transformation of the past five years is proof that with solid foundations and a long-term vision, old glories can be revived. In the stands of their stadium overlooking Lake Como, the tifosi can now hope that their dream of winning the scudetto is no longer just a pipe dream.

Oxford United is a "yo-yo" team that fluctuates between divisions in English football, having never experienced the rigors of the Premier League. In the 2024/2025 season, the team managed to secure promotion to the Championship, the second tier after the Premier League.

Behind this resurgence, two Indonesian names are recorded as part of the club, namely the entrepreneur and Chairman of PSSI Erick Thohir, and the Chairman of Kadin Indonesia Anindya Bakrie.

Both officially became the majority owners of Oxford United on September 27, 2022. Through their ownership of 51 percent of the club's shares, they are not only investing but also bringing a new spirit to the club based at Kassam Stadium, Oxfordshire.

In addition to the two prominent names from Indonesia, the club is also co-owned by Thai businessman Sumrith Thanakarnjanasuth and Vietnamese tycoon Horst Geicke. The entry of Southeast Asian owners into the structure of Oxford marks a new direction for modernization, consolidation, and gradual restructuring of the team.

It is not surprising that just two seasons later, the club that once struggled in League One is now preparing to compete against teams such as Leeds United, Sunderland, and Watford.

One of the young faces from Southeast Asia is also part of this story: Marselino Ferdinan. The midfielder of the Indonesian national team has joined the main squad of Oxford this season. For Marselino, this is a significant step; for Oxford, the presence of a talented young player from Asia is part of the strategy to expand the club's global identity.

In the middle of the 2024/2025 season, Oxford's front line also received an additional boost after acquiring the Indonesian national striker from FC Utrecht, Ole Romeny, for a fee of 2 million euros. This transfer fee even set a new record for the team.

As of week 35 of this season, Oxford is positioned in the middle of the Championship standings. They have recorded several surprising victories, including defeating Norwich City and drawing with Southampton.

Off the field, the atmosphere at Kassam Stadium has also changed. Enthusiasm has increased, and the club's marketing campaign has begun to reach the Asian community in England.

The name Erick Thohir is not new in the world of European football. In 2013, he, along with Rosan Roeslani and Handy Soetodjo, acquired Inter Milan from Massimo Moratti. He even served as the President of the giant club Inter Milan before relinquishing ownership in 2019.

Now, in England, Erick brings the same experience. Together with Anindya Bakrie, who is active in the energy and media sectors, they are trying to prove that football is not just a sport, but also a form of cultural and economic diplomacy.

In a small, quiet town in East Flanders, a great story is being written by FCV Dender. The club, which once struggled in the third division of the Belgian League, is now competing in the Belgian Pro League, the highest tier of football in the country. Behind this transformation is the name Sihar Sitorus, an entrepreneur and politician from Indonesia, who acquired the club in 2018.

FCV Dender, or Football Club Verbroedering Dender Eendracht Hekelgem, was founded in 1935. After experiencing ups and downs, including relegation to the third division, the club has started to show a revival since being taken over by Sihar. With a clear vision and the right investment, Dender managed to get promoted to the Belgian Pro League for the 2024/2025 season, ending a long wait of 16 years.  

This season, Dender has made a surprising appearance. In the first six weeks, they recorded three victories, two draws, and one defeat, placing them at the top of the temporary standings. Victories against strong teams such as KAA Gent and KV Kortrijk demonstrate that Dender is not just an ordinary promoted team.

One of Dender's strategic moves was to recruit Ragnar Oratmangoen, a 26-year-old Indonesian national team player. Ragnar, who previously played for several Dutch clubs, joined Dender in August 2024 with a contract until 2026. His presence is expected to increase the team's attacking power and bring international experience. 

For Ragnar, playing in Belgium is a new challenge. "I really want to play abroad. The opportunity in the Belgian League is a good chance to show myself in a different league," he said in an interview with Kompas.com.

Sihar Sitorus himself is not a foreign name in the world of Indonesian football. In addition to having served in PSSI, he also owns several clubs in the country, such as Medan United FC and Pro Duta FC. His ownership of FCV Dender shows his commitment to developing football, not only in Indonesia but also in the international arena. 

With a combination of solid management, talented players, and support from visionary owners, FCV Dender has now become a symbol of collaboration between Indonesia and Belgium in the world of football. Their journey is still long, but this promising initial step offers great hope for the future of the club and Indonesian football on the global stage.

Lecce, a small city in the heart of Puglia, Southern Italy, has suddenly become more familiar to the Indonesian public. Not because of its stunning baroque architectural masterpieces, but rather due to its football. Specifically, because the pride of the city, Unione Sportiva (US) Lecce, now has a touch of the archipelago.

Alvin Sariaatmadja, the President Director of Emtek Group, is the figure behind that connection. In 2022, Alvin officially became a minority shareholder in US Lecce after purchasing a 10 percent stake in the club. His involvement was announced alongside the entry of Swiss-Italian investor Pascal Picci, the former President of Sauber— the Formula 1 racing team now known as Alfa Romeo Racing.

“The new names are Pascal Picci and Alvin Sariaatmadja, CEO of Emtek, an Indonesian media company that also invests in technology and healthcare,” wrote local media outlet Lecce Prima, reporting the change in the club’s ownership structure.

Alvin's entry into the world of Italian football is not merely an investment. He is positioning Emtek within the ever-evolving landscape of global sports business. Emtek has previously been involved in sports broadcasting rights and is now expanding its presence into the club that has been established since 1908.

This season, US Lecce again has to struggle hard at the bottom of Serie A. Until the 35th week of the 2024/2025 season, the team nicknamed I Lupi Salentini is ranked 18th out of 20 participants. The red zone of relegation is haunting them again, only a little away from the safe positions occupied by Hellas Verona and Empoli.

On the other hand, Como 1907, a club owned by the Hartono brothers from Indonesia, is comfortably positioned in 13th place. This contrast increasingly captures the attention of the public in the homeland, who are beginning to follow the endeavors of Indonesian entrepreneurs in the European football scene.

Although the results of this season have not been impressive, Lecce has a history that cannot be underestimated. Since changing its name to US Lecce in 1927, the club has been known as one of the "troublesome" teams for the giants of Serie A. Their home ground, the Via del Mare Stadium, often serves as a stumbling block for major teams. In the 2000s, names such as Mirko Vucinic, Valeri Bojinov, and goalkeeper Antonio Chimenti were key players for the team.

However, Lecce's journey has not always been smooth. They often fluctuate between Serie A and B. Their cautious financial model makes it difficult for them to compete financially with established clubs such as Inter Milan, Juventus, or AS Roma. Nevertheless, the presence of investors like Alvin Sariaatmadja offers a glimmer of hope for a new direction that is more modern and professional.

Alvin's entry into Lecce also reflects a new trend where media and technology industry players are beginning to invest in the world of sports. In Europe, this phenomenon has become commonplace: from Amazon acquiring broadcasting rights for the Premier League to Netflix producing documentaries about elite clubs. In Italy, Emtek and Alvin have become pioneers from Southeast Asia.

Many hope that Alvin's role is not merely symbolic. If Lecce can avoid relegation and improve its team management system, the club could serve as an example of how foreign investors can have a positive impact on the Italian football ecosystem.

Amidst the hustle and bustle of English football, Tranmere Rovers FC, a club with over a century of history based in Birkenhead, Merseyside, is struggling to maintain its existence in League Two, the fourth tier of the English football league system. The 2024/2025 season poses a significant challenge for the club nicknamed "The Rovers," currently positioned 22nd out of 24 teams, having accumulated only 40 points from the 39 matches played.

Behind the struggle on the field, there is support from Indonesian investors, Santini Group, which through its entity Walutje Pte. Ltd, holds a 10 percent stake in Tranmere Rovers.

Santini Group, founded by Sofjan Wanandi and now led by the second generation of the Wanandi family, is a business conglomerate operating in various sectors, including automotive, property, and hospitality.

Their investment in Tranmere Rovers goes beyond mere share ownership; it also includes the development of the club's infrastructure, such as improvements to the academy facilities and stadium connectivity, as well as efforts to expand the club's market reach into Asia. With a stadium capacity of 16,567 spectators, Tranmere Rovers has a loyal supporter base.

However, the team's performance this season faces significant challenges, with a record of 9 wins, 13 draws, and 17 losses, as well as a goal difference of -25. The club's management, led by Mark and Nicola Palios, continues to seek the best formula to improve the team's performance and avoid relegation to the National League.

The presence of Santini Group as a foreign investor in Tranmere Rovers reflects the globalization trend in football club ownership, where investors from various countries see the business potential and social influence of football clubs in England. For Santini Group, this investment also forms part of a global expansion strategy and brand strengthening on the international stage.

Despite the significant challenges on the ground, support from investors such as Santini Group offers new hope for Tranmere Rovers to rise and compete at a higher level within the English football league system.