KV Oostende bites off: “No financial mismanagement, only under-capitalization”

“The majority of Belgian clubs are struggling with an annual operational loss and limited liquidity. KV Oostende is in a similar situation,” the Coastal Team refers to the figures published by the Belgian Football Association earlier this week. This shows that the 25 professional clubs together lost 156 million euros.

“Information incomplete”

“The board has taken note of the news brought /Thursday by DPG Media Group. We want to assure all sponsors, fans, suppliers and shareholders that this information is incomplete. There is no financial mismanagement, just a temporary situation of thin capitalization. We want to rectify that in the short term to comply with our license application.”

“paid correctly”

The policy of owner Pacific Media Group, which took over the club a few years ago, was also criticized in the newspapers. “We would like to emphasize that the owners remain committed to supporting and stabilizing the club in order to obtain a license for next season. All players and employees of the club have always been paid correctly and the club has passed the monthly checks every time We are aware that invoices are still outstanding with several suppliers and we want to come up with a solution for this in the short term.”