Vitesse Arnhem Faces Threat of Disappearing due to Financial Issues

Vitesse Arnhem, the second oldest Dutch club, created in 1892, is in danger of disappearing. In any case, this is the meaning of the decision taken by the licensing committee of the Football Association of the Netherlands (KNVB), made public this Tuesday in a press release. The day before, the body informed the club of its verdict aimed at withdrawing its license “for not having met the licensing requirements”.

“The independent licensing committee of the KNVB has withdrawn the license of the Vitesse football club as of July 9,” the KNVB said. She points in particular to “the absence of a bank account, the absence of a chartered accountant and the fact that a balanced budget could not be provided. »

Vitesse were relegated from the Dutch top flight for the first time in 35 years in April, after being handed 18 points by the KNVB.

A debt of more than 14 million euros

By the end of April, the commission had already threatened to revoke the license. On May 17, due to “the positive development surrounding the transfer of shares to an independent foundation”, it granted one month and one week of additional time to the club to “put its affairs in order” and “find a new owner. » But the report delivered on June 24 at noon proved insufficient to ensure sustainability. The main creditor, Coley Parry, through his company Common Group, has a debt of “more than fourteen million” euros, according to the Dutch media Voetbal International.

The club located in the province of Gelderland has one last resort: to file a written appeal within five days of the date of the decision. Something done instantly by Vitesse after the announcement of the commission, indicates the press release. “We expected such a decision to be taken,” reacted interim general manager Edwin Reijntjes. We were indeed unable to provide the required information in time. As we also announced to the KNVB, we will appeal immediately. »

According to local media, the Dutchman Guus Frank, manager of an investment company, would be a potential buyer, once “the debt restructuring is completed and subject to approval and granting possible licensing by the KNVB. » In a press release relating to the withdrawal of the license, the club confirmed its interest in the matter. Frank McCourt, owner of Olympique de Marseille, was also interested, before giving up in the face of the scale of the debt to be absorbed.

“We are approaching this process with confidence,” added Reijntjes. If the appeal is rejected, an appeal to the civil court is still possible.

Winner of the Dutch Cup in 2017, its only major title, Vitesse fell to the Second Division for the first time in 35 years. The Belgian Loïs Openda, 88 matches between 2020 and 2022, had notably participated in crowdfunding to save the club. The Keuken Kampioen Divisie is due to resume on August 9.

2024-06-25 10:58:35
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