Cash-strapped Utrecht devise plan
Wednesday, May 7, 2003
Article summary
FC Utrecht are to sell their stadium in an attempt to ease their growing financial problems.
Article body
The FC Utrecht board have resigned en masse as part of a rescue plan that should get the Dutch club out of its dire financial situation.
Sale of stadium
The plan involves the sale of the club’s Nieuw Galgenwaard stadium to a private company. Utrecht city council will support the plan by acting as the financier of the transaction, whereby they will guarantee the club a certain amount of rent per annum. With the money from the sale of the stadium, the club should be able to clear their debts.
Player exodus
The Dutch Cup finalists, who are sixth in the Eredivisie, are expected to end the season with debts of around €20m that will result in the sale of at least six players. Goalkeeper Harald Wapenaar and striker Igor Gluscevic head the list along with Marinus Dijkhuizen, Alfons Arts and Arco Jochemsen. Dirk Kuijt (Feyenoord), Stijn Vreven (1. FC Kaiserslautern) and Robert Roest (AGOVV Opgericht) have already been off-loaded as the club tried to cut costs.
