Last updated 7 years ago by UtrechtCentral.com
Major shareholder of the Dutch club FC Utrecht, Frans van Seumeren, has managed to settle part of the clubs gaping debt gap with some 27 million euro in equity. General Manager of the club, Wilco van Schaik, was pleased to announce the partial debt settlement on Friday.
This transaction has had a positive effect on the club. The value of the players have put the clubs balance sheet back in the green however there is still a substantial amount of outstanding debt to settle before the club is clearly operating in the positive again. Van Seumeren became owner of the club in April 2008.
This season, despite the recent transaction, the club will be operating with 6 million euro in debt according to Van Schaik. That deficit is expected to be reduced to 3 million by next season. Past financial statements have shown that FC Utrecht manages to structurally record losses every year in some way or another. Through various unnecessary spending cuts, the club is expected to be fully operating in the positive by 2016.