Donar is in even worse weather than previously assumed. The debt of the basketball club has risen to 1.75 million euros. An emergency operation must provide rescue within three weeks, otherwise the club will be bankrupt.
A few weeks ago, the current board of Donar came out with the first reports that there were financial problems. Initially it was thought that the debt of the Groningen basketball pride would amount to a maximum of 800,000 euros. However, the audit of the accounts by the accountant has made it clear in recent days that debts have risen in recent years to an amount of 1.75 million euros.
Treasurer
For the time being, the black piet goes to the treasurer who recently retired due to private circumstances, who would not have provided his fellow board members with the correct information in recent years. The board members who are still in office have now completely wiped their agendas to save what can be saved. Together with a task force led by former bank director Jakob Klompien, an attempt is being made to make a restart in order to guarantee the continued existence of top basketball in the city of Groningen.
For this the club, that much is clear, needs all companies, sponsors and fans who have a warm heart for Donar. An agreement has already been reached with some of the creditors. Quite a few are willing to waive or reduce the claims, while a number are still waiting for white smoke.
Investors
A group of investors has also been found who want to take over Donar. These wealthy Donar fans already have an amount of 300,000 euros on the table. Another sum of money is needed to save the club from destruction. To this end, it is hoped that even more investors will participate in a BV that is yet to be established. Hope is also pinned on, among other things, a crowdfunding campaign by the supporters.
Chairman Jannes Stokroos acknowledges the enormous impact of the recent revelations and the unexpectedly large financial shortfall. “The outcome has hit us like a bomb as a board,” says the president. ,,The report of our house accountant BDO shows that the former treasurer has been providing incorrect information and misrepresenting things for a long time. We also found that he had acted outside his mandate and irregularities were found in the financial administration. The board is very shocked by the deficit and is putting on penitence for the fact that this was able to take place under her rule.
Legal action
An independent investigation should provide more clarity about the cause and nature of the problem that has arisen. In the meantime, the board has taken appropriate measures to safeguard the interests of the club as best as possible. Legal action may also be taken against the retired treasurer.
In any case, the board of Donar is determined to solve the financial situation. In order to be able to act quickly once agreements have been made with all creditors and the necessary money is on the table, a budget for the coming season has already been prepared. This amounts to approximately 1.7 million euros, more than half a million euros less than now. ,,Yet there is enough room within this budget to put together a fully-fledged competitive team”, says Stokroos. That is also a firm demand from the investors who have now taken office.
New shareholders
As mentioned, there are now a number of shareholders who have indicated that they want to contribute to the continued existence of the club. Donar gives itself a few weeks to look for additional parties. Donar’s new sponsorship model will then be based on the possibility for both large and smaller sponsors and fans to invest money in shares of the club. The shareholder of the club can exert maximum influence on policy and implementation, and thus on the success and performance of Donar.
,,This sponsorship model enables us to involve a wide range of companies and fans in Donar”, says Stokroos. “We strongly believe in the power of community involvement and want to give ownership to those who have supported us through all weathers. By becoming a shareholder of the club, sponsors and fans can not only contribute financially, but become an even better part of our journey to sporting success.”
‘Time is running out’
“We invite interested parties to contact us shortly and discuss the possibilities of this sponsorship model,” Stokroos continues. “Whether it be companies wanting to become shareholders or sponsors, or who want to play an important role in the development of our club, or fans who want to contribute, we are open to discussions and look forward to bringing new partners on board. to welcome. But don’t wait too long, because time is running out.”
Interested parties can contact Donar through the board and next week a meeting will be organized for interested investors.