Vitesse books another big loss

Premier division football club Vitesse is again in financial trouble with a net loss of €24.5m in the period July 1, 2012 to June 30, 2013.

The loss keeps the Arnhem club just within the rules of Financial Fair Play set up by the European football federation UEFA.

These state a club may have a loss of a maximum €45m over a three year period as long as its owners cover that loss. If the rule is broken, the club may not play European football the following season.

Perilous position

Vitesse, currently in second position in the Dutch premier league, has been in a financially perilous position for several years. It is currently running a total loss of €43m over two years, according to the NRC.

The club hopes the sale of Wilfried Bony and Marco van Ginkel, in total for around €20m, will keep next season’s loss within the €2m necessary to stay in European football, the paper says.

The club aims to gradually reduce the gap between income and expenditure. ‘I am confident we shall succeed,’ director Joost de Wit told the NRC.

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