topics
tools
Expatica countries
Index Last Var.(%)
BEL 20 3083.51 0.32
DAX 9605.08 0.17
IBEX 30 10058.5 -1.04
CAC 40 4387.61 -0.20
FTSE 100 6806.86 -0.05
AEX 397.5 -0.20
DJIA 16272.65 0.46
Nasdaq 4318.933 0.63
FTSE MIB 20298.33 -0.11
TSX Composite 14214.35 0.18
ASX 5415.4 -0.10
Hang seng 22836.96 0.04
Straits Times 3110.78 0.45
ISEQ 20 836.3 0.23
EUR / USD 1.37976 0.67
EUR / GBP 0.82571 0.59
USD / GBP 0.598544 -0.10
Gold 1329.6 -0.13
Oil 108.9 -0.76
Silver 21.28 0.08
You are here: Home News Dutch News Vitesse first Dutch club sold to foreign investor
Enlarge font Decrease font Text size


16/08/2010Vitesse first Dutch club sold to foreign investor

RNW

Arnhem's Vitesse is the first professional Dutch football club to fall into the hands of foreign investors. Georgian investor Merab Jordania has bought the club which has been in financial dire straights for some time. Mr Jordania, who is a friend of Chelsea-owner Roman Abramovich, promises to make the Arnhem club Dutch champion within three years.

Vitesse is the Netherlands' second oldest professional football club. In 1984 it was taken over by Karel Aalbers, who had high aspirations for the club. In the 1988/1989 season, Vitesse was promoted into the premier league. Two years later, the club made its debut at the UEFA Cup. In the 1997/1998 season, Vitesse came third in the premier league.

But sporting success was not enough and in 1998 the team moved into the brand new Gelredome stadium, which seats 29,600 fans. The old stadium only had room for 8000 spectators.

The sky appeared to be the limit for a decade, until the club got into financial difficulties and Karel Aalbers was forced to resign following fraud allegations. After his departure in 2000, it became apparent that “FC Hollywood on the Rhine” as the club was once dubbed was seriously in debt. Gelderland's provincial council and the city council as well as influential business people in the region only just managed to rescue Vitesse from bankruptcy.

Since then the club has played to beat relegation rather than win the league. A 27-million euro debt was written off two years ago, but there were still fears for the club's financial future. The new owner Merab Jordania says these problems are a thing of the past as money is no object.

Merab Jordania has a turbulent past in the Georgian football and business world. He is a former Dinamo Tbilisi player and former chairman of the club. He has also been president of the Georgian football association and was once coach for the national team.

 

 

© Radio Netherlands Worldwide

 


© Radio Netherlands Worldwide




0 reactions to this article

0 reactions to this article

 
Discussion Forums

Americans in the Netherlands

Jobs for Americans and marriage

Legal Problems in the Netherlands

Really difficult situation at work

English in the Netherlands

A roof over my head :-)

Relationships in the Netherlands

Married in NL but not sure how to register in the UK and NL?

Networking in the Netherlands

Linkedin data analysis, how?

participate in the forums

 
 
 
 
 
Inside Expatica
Setting up home in the Netherlands

Setting up home in the Netherlands

A guide to telephone, internet and television along with utility services water, electricity and gas in the Netherlands.

Dutch immigration and residency regulations

Dutch immigration and residency regulations

Lost in the Dutch immigration system? Look no further than this guide compiled for our Survival Guide 2012.

A brief introduction to the Netherlands

A brief introduction to the Netherlands

Expatica offers a whistle-stop tour of life in the modern Netherlands.

Giving birth in the Netherlands

Giving birth in the Netherlands

The challenges and benefits of the maternity system in the Netherlands and how it differs to other countries.