First division football club Veendam is bankrupt and out of professional football, the official receiver said on Monday.
Veendam officials had pinned their hopes on local entrepreneurs to raise the necessary €1.1m to bail out the club and put together a proper budget for next season. The club was put under court protection two weeks ago.
Veendam FC was founded in 1894, making it one of the oldest Dutch clubs.
The Groningen side is the fourth premier division club to go bankrupt since 2010 and follows Haarlem, RBC Roosendaal and AGOVV Apeldoorn.
The Jupiler league will continue with 16 clubs, the NRC reported.
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