Lietuvos Rytas could have a new name next season after Vilnius city municipality became the club’s shareholder. Municipality will have 1/4 of all votes in shareholder’s meeting which and will participate in the management of the club.
In exchange for Rytas’ shares and voting rights in shareholders’ meeting, Vilnius municipality will pay 3 million Lithuanian litas (around 870,000 euros) to the club each year.
Until now the club had the same name as the largest daily newspaper in Lithuania because Rytas was controlled by a media group which owns Lietuvos Rytas daily.
However, this could be the last season for Lietuvos Rytas with its current name. Vilnius municipality would like to change the club’s name to either ‘Vilniaus Rytas’ or just ‘Vilnius’ linking the club’s identity closer to the city.
The club itself supports the idea of a name change therefore the change is likely to take place once this season is finished.