ADO Den Haag in financial trouble as Chinese investor disappears again
ADO Den Haag is facing financial difficulties because Chinese owner Hui Wang still has not transferred any money to the club.
Tom de Bruijn, alderman of finances in The Hague, fears that the club will soon not be able to pay salaries. "If there isn't a solution soon, the club will have problems with paying salaries in February already", the alderman said to newspaper AD after a shareholders meeting at the Kyocera Stadium about the club's financial trouble on Wednesday. Wang was not at the meeting.
The financial difficulties are largely due to the club still waiting for a 3.7 million euro payment from United Vansen, Wang's company. Wang promised to pay over 1.9 million euros of that money. But because this hasn't happened yet, ADO is facing a liquidity deficit of 1.3 million euros and the club may be placed under strict KNVB supervision in Category 1.
"Category 1 is inevitable", Jan Willem Wigt, general director of ADO, said to VI. "Only if Wang still comes with an investment or we come up with a suitable solution ourselves, there will be a safety net to accelerate the step back to category 2. We are working on various solutions and it looks positive."
Wigt is hopeful that they will be able to discuss the matter with Wang soon. "Wang opted out of today's meeting. He invited us to come to China, which is definitely being discussed. There are also rumors that he will come to Europe next week, so that can already be a solution."