Football club MVV is saved from bankruptcy
Maastricht football club has managed to stave off bankruptcy after reaching a deal with most of its creditors.
The agreement means salaries can now be paid and the club will start with a budget of €2.6m next season.
At the end of last month Maastricht city council agreed to buy the club’s stadium for €1.8m and wipe out debts of €1.7m on the condition the club appoints a new board and other creditors also wipe out their debts.
MVV is the third first division club to get into trouble this year. Haarlem has been declared bankrupt and Veendam is under court protection from creditors.
Premier division side Willem II is also in serious financial difficulty.
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