The investors who want to take over the ailing Donar and the fans of the Groningen basketball club have together raised about 700,000 euros to save the club.
It was estimated in advance that five to six tons should be enough to keep Donar going. The sale of shares (at 25,000 euros) and the fundraising of the fans, who could also buy shares, went better than expected. On Wednesday evening, the shareholders deposited approximately 600,000 euros in a notary account and the supporters 100,000 euros. The money will remain there until it is clear that Donar has been finally saved. In the unlikely event that this does not work, the investors and fans will get their money back.
Agree
The vast majority of Donar’s creditors have now agreed to an offer of 20 percent of their total claim on the club. The largest creditor, the Tax and Customs Administration, has yet to give its approval. Donar has a debt of approximately 600,000 euros with the tax authorities. The Tax and Customs Administration would therefore have to settle for a compensation of approximately EUR 120,000.
An investor also presented himself this week who, with an even higher offer than the current investors and fans, wanted to take over the club on his own. Donar’s board and supervisory board decided, after much deliberation, to stick to the broader foundation that the other investor group and the fans provide the club.
Go or no go
By next Friday at the latest, the specially appointed task force that is trying to protect the club from financial ruin wants a go or no go for the restart of the club.