A group of regional investors has reached a deal with the foreign owners to take over the shares of Vitesse, the club announced on Saturday. Subject to KNVB approval, the Keuken Kampioen Divisie club will definitively no longer be in foreign hands.
The investors, united in a group called ‘Sterkhouders Vitesse Arnhem’, have acquired the shares of former chairman Dane Murphy (24.9 percent). The American left for English second division side Charlton Athletic over a week ago.
The regional financiers will take over the remaining 75.1 percent of the shares in Vitesse if the KNVB approves the deal. This agreement will also allow Vitesse to submit a balanced budget to the association. The financiers will cover the deficit in the budget.
Vitesse was supposed to have submitted a balanced budget by Monday evening, but the club has been given extra time to achieve this. The Arnhem side must now solve all financial problems within two weeks, otherwise new penalties will follow.
The intended takeover does not mean that Vitesse is saved from ruin. The KNVB’s licensing committee made it clear last month that it wanted to withdraw the Arnhem side’s professional license because the club had once again failed to comply with important agreements. Earlier, the club had already been deducted 39 points for (financial) mismanagement.
Uncertain whether takeover comes in time
It is questionable whether the intended takeover will be arranged in time to save Vitesse. The licensing committee is expected to make a definitive judgment on the club’s professional license in the short term.
But even if the KNVB’s licensing committee goes ahead with the intended steps against Vitesse, the second oldest professional club in the Netherlands (founded in 1892) will not immediately cease to exist.
Vitesse can still obtain a professional license through an appeal procedure with the KNVB. The Arnhem side can also go to civil court. This means that the troubles in Arnhem will probably last for weeks.
Vitesse has taken important steps in recent weeks to obtain the license. For example, the club hired a new accountant, which is an important condition of the KNVB. The new Keuken Kampioen Divisie season starts on August 8.