The City Football Group (CFG), the parent company of Manchester City, have completed a deal to add a ninth football club to their portfolio.
CFG have purchased Lommel SK who are currently playing in the Belgian First Division B, second tier, and are based in the city of Lommel in the north of the country.
They were sixth in the table when the Belgian season was ended because of the coronavrus pandemic and it is reported that the deal will also clear Lommel's debts of almost €2m.
The chief executive of CFG, Ferran Sorriano, said that developing the club and young talent will be their main aims with the Belgian club.
"We are excited to welcome Lommel SK to City Football Group and to work together with the fans and the city to develop the club," said Sorriano.
"Belgium is one of Europe's best football countries as demonstrated by the success of the national team and the development of world-class players, some of whom we know very well, like Kevin De Bruyne and Vincent Kompany.
"This investment is part of our long-term strategy to be present in key football countries, play beautiful football and develop talent.
"We were attracted to Lommel's culture, training facilities and commitment to youth development and we look forward to learning from their approach and helping the club to evolve in the months and years ahead."
It is the third European club to club to join the CFG stable after Manchester City and Girona while they also own or part-own New York City, Melbourne City, Yokohama F Marinos, Montevideo City Torque, Sichuan Jiuniu and Mumbai City.
Bob Nijs, the mayor of Lommel, said: "Lommel SK is an incredibly important part of our community.
"In City Football Group we have an ambitious, stable and reliable partner, which is committed to developing young players and will help the club to grow and succeed in the future.
"It is excellent news for the club and for the city."