KV Oostende is heading for bankruptcy now that the takeover is failing.
On Monday things looked better for the ailing club KV Oostende. There was an agreement with Apex Capital Global. However, this takeover will not go ahead, the club reports.
“I have always been transparent in my communication and want to be so now”, said temporary administrator Werner Van Oosterwyck on the KV Oostende website. “The issues that arose last week have unfortunately not been resolved and this is one of the reasons why the potential acquirer Apex has dropped out. Without acquisition there is no possibility to obtain the license. Unless a miracle solution presents itself in the next 24 hours.”
On Friday, KV Oostende must appear before the Belgian Center for Arbitration in the Sports Sector to submit its license file. Now that the takeover has been completed, there is no possibility of obtaining the license. Bankruptcy is looming.
