PSV in financial trouble

4th January 2011, Comments 0 comments


PSV General Manager Tiny Sanders has said that his club is facing long-term financial problems if it does not put its financial affairs in order. Mr Sanders made his ominous statement in his New Year's speech.

'Short-term liquidity is not an issue, but in the long term liquidity, assets and net results must be addressed."

PSV fell nearly 17.5 million euros short in the past season, after making more than 9 million euros profit the year before. "We have seen how a hard landing can set clubs back for years; we are striving for a soft landing with the biggest possible sports ambitions. However, what must be done, will be done." Mr Sanders announced that in future PSV players will only be making more than a million euros a year as a rare exception.


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