the second tier in 2004. Economic crisis AB's latest upturn was started by talented players who helped AB advance through the rows, but the sustained success was also sparked by the transformation of AB from an amateur union into a professional football business. This process was initiated by the three new board members Bent Jakobsen, Denis Jørgen Flemming Holmark and Torben Mærsk who in short time raised large capital sums through a stock exchange introduction of the club. In the 1997/98 season, the board introduced full-time professionalism in AB, and great efforts were made to achieve success in the league with the appointment of Christian Andersen as head coach and with the purchase of several profiles. The board wanted to make AB a power factor in Danish football again through a business plan based on buying and selling players, sporting success, TV revenues, entrance fees, merchandise sales and talent development. On November 24, 1997, AB was transformed from a private limited company to a limited company, and the share capital was also expanded to DKK 36,700,000. The money was invested in significant upgrades of the team, staff and facilities. At the same time, a drastic expansion of Gladsaxe Stadium, which was intended to create a foundation for a modern football business, was initiated. In 1998, the new board members pushed the CEO for six years, Henrik Mostrup, out of the management and instead appointed the former AB profile Per Frimann as new CEO. Shortly after – in November 1998 – AB was introduced on Copenhagen Stock Exchange where the club brought DKK 93,000,000 to course 115. In the following years, huge amounts of money were invested in new players. At the same time, many profiles were sold to balance the accounts. However, AB had bought too many players too expensive, which meant that no money was earned. Despite the large equity from the IPO in 1998 and several large million sales to international top clubs, there were nevertheless blood-red numbers in the annual accounts, especially in the early years of the 2000s. In the 2000/2001 annual account, the deficit was DKK 36,392,000. The same year, measures to reduce operating expenses were therefore initiated. At the same time, rumors came up about possible bankruptcy and a merger with FCK, but this was however rejected. In 2001, Per Frimann resigned as CEO of AB and moved to a role as sports director.