Legia Warsaw Brings in Michael Gorzynski as New Co-Owner With 40% Stake.

Roger Hampel

Image: Legia Warszawa

Legia Warsaw has brought in a new minority shareholder after US entrepreneur and investor Michael Gorzynski acquired a 40% stake in the Polish football club, combining an equity investment with an owner loan designed to strengthen Legia’s balance sheet and fund its operations.

Existing owner Dariusz Mioduski retains a 60% controlling stake and remains President of the Management Board. Michael Gorzynski, an American investor of Polish origin, becomes Chairman of Legia’s Supervisory Board.

The transaction combines newly issued shares from a capital increase with the acquisition of existing shares from Dariusz Mioduski. It also includes a term shareholder loan for the club’s ongoing operations.

Legia said the combined capital injection will reduce debt and improve its financial stability. The parties have agreed not to disclose the financial terms of the transaction.

Gorzynski Takes 40% Stake, Mioduski Retains Control Legia

The transaction changes Legia’s ownership structure without changing its majority shareholder.

Michael Gorzynski will own 40% of Legia Warsaw, while Dariusz Mioduski will retain the remaining 60%.

The investment is structured through two equity components: Gorzynski is subscribing for newly issued shares as part of a capital increase and acquiring existing shares directly from Mioduski.

The club did not disclose how the 40% holding is divided between newly issued and existing shares, nor the valuation applied to the transaction.

The inclusion of newly issued shares means that at least part of Gorzynski’s investment represents fresh equity entering Legia, while the separate shareholder loan provides additional capital for current operations.

Capital Injection Designed to Reduce Legia’s Debt

Legia explicitly linked the transaction to its financial position.

According to the club, the combination of new equity and shareholder financing will reduce its debt, strengthen financial stability and increase its capacity for further development.

No figures were provided for the size of the capital increase, shareholder loan, debt reduction or Legia’s implied valuation.

The financing structure is therefore more significant than a straightforward secondary share sale between two investors. It includes capital directed into the club itself alongside Gorzynski’s purchase of shares from Mioduski.

Gorzynski Becomes Supervisory Board Chairman

Gorzynski will take an active ownership-level role as Chairman of the Supervisory Board, with his involvement focused on ownership matters and strategic initiatives.

Legia said its Management Board will remain unchanged.

Responsibility for day-to-day operations and sporting decisions will continue to sit with the club’s existing management team, led operationally by Marcin Herra.

Mioduski will retain his role as President of the Management Board in addition to remaining Legia’s controlling shareholder.

The structure separates Gorzynski’s strategic and ownership involvement from the club’s existing operational and sporting management.

Investment Targets Long-Term Development

Mioduski described the transaction as a long-term investment intended to provide both capital and an additional strategic partner for Legia.

Dariusz Mioduski said:

“The next chapter in the club’s history requires not only long-term capital, but above all a partner focused on many years of cooperation.”

Mioduski and Gorzynski also share links to both Poland and the United States. Both emigrated from Poland to the US during the 1980s and studied at Harvard.

Gorzynski pointed to Legia’s existing infrastructure, academy and commercial operations as important elements behind the investment.

Michael Gorzynski said:

“I see enormous potential in Polish football, and nowhere is it more evident than at Legia Warsaw.”

He also highlighted the club’s training centre, academy, commercial activities and the development of Warsaw as factors supporting his long-term investment thesis.