Moderators Tempelman Posted July 5 Author Moderators Posted July 5 An update on the situation at my club. There is an agreement between the soon to be new owner of the club and Coley Parry, they made the appeal just in time before midnight to the license committee. I am skeptical. Quite a lot. I said about Twente a couple of years ago, that in my opinion, they should lose their license, for 'cheating' and messing with the club's finances. With that in mind, and Vitesse being my club, I just can't say, my club should be saved, because they have virtually done the same. I am even surprised that anyone wants to invest in the club. Meanwhile the interim directors and some other employees earn several tons of money, say they can't cut costs any more, and point fingers at everyone else but themselves. Gambling on one horse, a big poker bluff play, to take over the club and invest. In my opinion nothing has been learned from the past, waiting for just one investor to take over, instead of cutting costs more. The club SHOULD have collapsed, horrible thing to say about my club, but that is my opinion. The appeal is in about a week and then we will see what will happen. Some media report the club is saved, but there still are a lot of things to be done. No banker, no accountant, for example
Moderators Tempelman Posted July 13 Author Moderators Posted July 13 An update. Yesterday the licensing committee made the decision to again give Vitesse more time until 22 July to make their affairs in order. Vitesse and the intended new owner (Guus Franke) claim they have submitted all the right documents to the KNVB, there was an external accountant company who vetted Franke's finances, still the licensing committee is not convinced and wants to do more research on the source of his financial records, which would take 4 months. This angered Franke who has threatened to pull out if they don't make a final decision before 22 July. So big powerplay it is... Vitesse once again contacted Gelredome stadium owner Van der Kuijt to maybe step in if it all collapses. But he wants to cut into the finances more, and wants the interim directors to not get their expensive bonuses.
Moderators Tempelman Posted August 3 Author Moderators Posted August 3 An update... After months of total insecurity, postponements and a lot of nailbiting Vitesse finally meets all demands the licensing committee has made, and as of today, just now got their professional license back!! For a moment I felt good we were going the same way as Bordeaux, it is kind of a bloody miracle that Vitesse got it back. Vitesse were lucky that the KNVB also did not want to lose Vitesse as a professional club, and they cut Vitesse a lot of slack and time to get everything in order.
Moderators Johno Posted August 11 Moderators Posted August 11 On 03/08/2024 at 18:52, Tempelman said: An update... After months of total insecurity, postponements and a lot of nailbiting Vitesse finally meets all demands the licensing committee has made, and as of today, just now got their professional license back!! For a moment I felt good we were going the same way as Bordeaux, it is kind of a bloody miracle that Vitesse got it back. Vitesse were lucky that the KNVB also did not want to lose Vitesse as a professional club, and they cut Vitesse a lot of slack and time to get everything in order. Fantastic!
Administrators Derek Posted August 11 Administrators Posted August 11 Is everything ok now mate with the club? Well reasonably speaking. Terrible to see what happened to Bordeaux.
Moderators Tempelman Posted August 20 Author Moderators Posted August 20 On 11/08/2024 at 11:50, Derek said: Is everything ok now mate with the club? Well reasonably speaking. Terrible to see what happened to Bordeaux. Yes, indeed, Bordeaux was a fun club to play with in FM. Vitesse have in my honest opinion been lucky... There was no-one ready to declare them bankrupt, which has probably saved them. The club still has a debt of 20M, but Parry has agreed to postpone payments of that debt until next year. Meanwhile, the KNVB is going to start an investigation into Guus Franke, who wants to be the new owner. He has an agreement with Parry about the 20M debt. At the same time older business partners of Franke have told that Franke is unreliable. So if Franke will not become the new owner, or if he does not fulfil what he promised to do, Vitesse will have similar financial issues next season. Right now, all we can do is wait. Edit: meanwhile, @VyKing promised me he would come to visit Holland, and obviously visit a match of Vitesse, once Vitesse has been saved 1 1
Administrators Derek Posted August 20 Administrators Posted August 20 1 minute ago, Tempelman said: Yes, indeed, Bordeaux was a fun club to play with in FM. Vitesse have in my honest opinion been lucky... There was no-one ready to declare them bankrupt, which has probably saved them. The club still has a debt of 20M, but Parry has agreed to postpone payments of that debt until next year. Meanwhile, the KNVB is going to start an investigation into Guys Franke, who wants to be the new owner. He has an agreement with Parry about the 20M debt. At the same time older business partners of Franke have told that Franke is unreliable. So if Franke will not become the new owner, or if he does not fulfil what he promised to do, Vitesse will have similar financial issues next season. Right now, all we can do is wait. Where did the debt come from? Is it associated to the time Vitesse were linked to then Abramovich owned Chelsea? I've yet to see a case where this type of official/unofficial link works well for both parties with the exception of the Red Bull group. I know multi club ownership is different to this situation but I'm curious...
Moderators Tempelman Posted August 20 Author Moderators Posted August 20 1 minute ago, Derek said: Where did the debt come from? Is it associated to the time Vitesse were linked to then Abramovich owned Chelsea? I've yet to see a case where this type of official/unofficial link works well for both parties with the exception of the Red Bull group. I know multi club ownership is different to this situation but I'm curious... The debt occurred when the Russian investor Valeriy Oyf stepped out of the club, because of the war. He had already invested several millions (like over a 100M) into the club but 'didn't want it back'. American investor Coley Parry was in line to take over the club, and before that invested several millions into the club, with a high interest rate, should the takeover be rejected. The takeover was eventually (after 18 months) rejected by the KNVB because Parry could not prove where his money came from. Rules for take overs are very strict over here. Vitesse were even fined for misleading, and an 18 point deduction, effectively relegating the club to the Keuken Kampioen divisie. The invested millions by Parry were turned into debts, which, as said, have a high interest rate.
Moderators Johno Posted August 26 Moderators Posted August 26 Sounds mind-boggling with all this! Hopefully things will get sorted out sooner!
Moderators Tempelman Posted November 6 Author Moderators Posted November 6 Another update. Originally, one of the demands of the licensing committee of the KNVB is that Coley Parry can't have any influence of any sorts regarding Vitesse. This was a no go, and if Parry did have any future influence, the club would never get their pro license back. Fast forward to a week ago. Guus Franke has stepped down as future owner, and blames Parry for it. Former business partners of Franke already warned Vitesse several times that Franke is unreliable, a fraud, as a whole not trustworthy. Franke had a deal with Parry about the debt of 17M, but at the same time, Franke was also still under investigation of the KNVB. Both parties are fighting it out through the media, and blaming each other. The thing is, there seemed to be a 'sideletter', a document between Franke and Parry, which proves that Parry would still have influence on the sell of shares of Vitesse, which was a no go for the license committee. The board of Vitesse claim they did not know about this document, which is naive. If they knew, the club could lose their license for good. If they did not know, as said, naive. Meanwhile as well, the club had a six point deduction, and because of the debt, the accountant cannot sign off the bills for next year, which will likely result in another point deduction. Vitesse are bottom KKD at this moment. This fucking soap never seems to end.....
Moderators Johno Posted November 7 Moderators Posted November 7 What a joke Thought it would be solved by now!
Moderators Tempelman Posted November 10 Author Moderators Posted November 10 If you guys are interested, this podcast of around 90 minutes long, is where Coley Parry himself tells his side of the story from the collapsed takeover, to today. I got to admit, that I did not trust this man at all, as well as his intentions with Vitesse. But, I now see a man who is well spoken, polite, calm and realistic, who seems to know what he is doing, or what he was doing. His side of the story definitely makes a lot of sense, and is very much believable. I am inclined to believe it. Anyway, very interesting podcast, if you want to know more about what happened at the club for the past years until this day, then I can definitely recommend it
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