Mason Mount and Martin Odegaard’s former club on brink of bankruptcy after being thrown out of league
THE former club of Mason Mount and Martin Odegaard are on the verge of bankruptcy after having the club’s professional licence revoked.
Dutch side Vitesse saw their football licence revoked after failing to submit the correct documentation before last weeks deadline.
The decision by the Netherlands FA, the KNVB, means the club will be blocked from participating in next season’s domestic competitions.
KNVB had granted them a one month extension, but confirmed the decision in a statement, saying: “The independent licensing committee of the KNVB has revoked the licence of football club Vitesse as of 9 July.
“This was communicated to the club on Monday.”
However, their issues go even deeper than simply having their football licence revoked.
Interim director Edwin Reijntjes revealed the club will no longer be able to pay its bills within the next couple of weeks.
Reijntjes told Dutch outlet Nos: “That is very worrying.
“We have still paid the salaries, but we also have payment obligations to other parties, such as the tax authorities.
“The situation is now very worrying, there is almost no money left. We need a capital injection in the short term.
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“We can only blame ourselves for the fact that we have not succeeded. We have had the opportunities and the time to get everything done.”
KNVB’s statement added: “The absence of a bank account, the absence of a controlling accountant and the fact that no conclusive budget could be provided, make it impossible to allow the licence of Vitesse to continue for the 2024-25 season.”
At 132 years old, Vitesse is the second oldest club in the Netherlands.
Last month they were relegated from the Eredivisie after being hit with an 18-point deduction.
They have won the Dutch Cup once and have a rich history of developing players, including Manchester United star Mount and Arsenal‘s Odegaard, who enjoyed loan spells there in 2017/18 and 2018/19 respectively.
Vitesse are in the middle of negotiations over a potential takeover by Dutch businessman Guus Franke.
The Anrhem club’s debts to current American owner Coley Parry are said to be worth around £12million.
Vitesse have confirmed they intend to appeal the decision of the Dutch FA.
Reijntjes added: “It was very important for the licensing committee that Parry is out of the whole story. Now we have to take steps with Franke towards the future of Vitesse…
“We think we can put things right in time and convince the appeals committee.
“The conversations with Franke are positive and that gives hope. But I will only believe it when the money is in the bank account, then we can continue.”
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