FC Twente on verge of losing pro football license over finances

FC Twente is on the verge of losing its pro-football license and being declared bankrupt. On Monday night the club has to present agreements made with its creditors to the Dutch football association KNVB. But no such agreements have been made yet, according to Dutch newspaper AD.

As a prerequisite of keeping its license, the football club needs all its creditors, which includes a number of former board members, to write off some of the club's debts. And if the indications that the sale and purchase of players did not happen according to the rules turn out to be true, the club wants the former board members to pay the bill for the tax authorities themselves.

Four board members form part of FC Twente's 15 creditors, according to the newspaper. They are Joop Munsterman, Aldo van der Laan, Hennie ten Hag and Hein Trebbe. Together they put more than 12 million euros of private money into the club.

FC Twente refused to comment on the matter, given that there may still be changes in the situation during the course of the day.

The KNVB gave FC Twente until May 1st to have their financial affairs completely in order. Last month Bert van Oosteveen, director of professional football at KNVB, stated that he was "not very optimistic" that the club will succeed.