Russian oligarch sells Arnhem football club Vitesse to American group

The Common Group is the new owner of Vitesse, the Arnhem football club announced on Thursday. The club signed a contract with the American investment party, and it must now be approved by the Dutch football association KNVB.

Finding a new owner puts an end to a long period of uncertainty for the Arnhem club, which started when the former owner - Russian oligarch Valeriy Oyf - was forced to sell his shares after the outbreak of the war in Ukraine.

The financial uncertainty put a great deal of pressure on Vitesse. The Common Group will give the club a financial guarantee for at least five seasons. According to general director Pascal van Wijk, the Americans also guaranteed that the club could maintain its identity and “the level of ambition of recent years.”

“This is an important day for Vitesse and everyone who cares about the club,” Van Wijk said. “For months, we have worked hard behind the scenes to bring the acquisition process to the best possible end. We are convinced that the Common Group is the right party for Vitesse and therefore present the new major shareholder with enthusiasm, pride, and confidence.”