Football: Dinamo Zagreb to be privatised, says chairman Zdravko Mamic

ZAGREB (AFP) - Croatian football giants Dinamo Zagreb are set to try and raise extra funds by being privatised the club's chairman Zdravko Mamic announced on Monday.

Dinamo Zagreb is currently registered as a non-profit, "citizens' association", a status which independent media and critics warn is widely abused for the personal gain of its officials.

Mamic did not give any timetable for the process for the club - who are well on their way to securing their 10th successive league title - while director Tomislav Svetina said an assessment of its property would be made first.

"We will offer Dinamo Zagreb shares on the market," Mamic told a club meeting, a statement said.

"If it will be a success we will get fresh capital for the club's development and stability." The 55-year-old - whose younger brother and former international defender Zoran is the Dinamo head coach - warned the club's revenues were decreasing which was in direct contrast to their heightened ambitions.

"That is why the management has decided that we need a step forward a new phase, reshaping of the club." The privatisation process will be conducted in several stages while in the first one shares would be offered to the city of Zagreb, said Svetina.

Dinamo would be following down the road taken by several of their rivals.

Croatian football has, in recent years, been rocked by financial problems, match-fixing and bribery scandals.

Meanwhile, untransparent running of the country's clubs, with the often interwoven interests of local officials, private owners and football managers have further tarnished its poor image.