Council passes Vitesse rescue plan
Friday, June 13, 2003
Article summary
Arnhem city council has agreed a €29.4m rescue package to safeguard the future of Eredivisie club SBV Vitesse.
Article body
Plan passed
According to the proposal, which was passed by 24 votes to 15, the city of Arnhem will buy the club's Gelredome stadium for €23.9m and also give Vitesse a loan of €5.4m. In return, the city has demanded the current Vitesse and Gelredome boards resign to make way for a new board, which will form one company controlling both the club and stadium.
Licence expected
Armed with this rescue plan, Vitesse are expected to be given a licence for next season by the Royal Netherlands Football Association (KNVB) - which would ensure their top-flight status.
Relieved chairman
"We have agreed to resign to make way for the rescue plan," said a relieved Vitesse chairman Jos Vaessen. "But until a new board is formed we will be handling the most important matters. Until 1 July we have the right to present a new budget to the KNVB for next season. We will immediately start work on this, and I expect us to get a licence for next season."
