Proposed US takeover of Vitesse blocked by licensing committee

A huge blow was dealt to Vitesse on Wednesday as the independent licensing committee for professional football blocked the planned takeover by the US-based Common Group. The Dutch football association KNVB released a statement on their website explaining the decision. There are doubts about Common Group's finances.

"In the opinion of the licensing committee, it has not been shown that the Common Group has any equity, and it is unclear whether the Common Group has investors. No insight has been given into the origin of the money (to be raised) from the Common Group," was the reason given in the statement released by the KNVB.

The investigation into the group lasted seven months. Vitesse announced in September of 2022 that Common Group, led by Coley Parry, wanted to take over the club from the Russian Valeriy Oyf, who had announced that he wanted to sell his shares in March of that year. Vitesse waited until April 2023 to make a specific request for the transfer to the Common Group.

This came shortly after the English newspaper The Guardian published an article in collaboration with The Bureau of Investigative Journalism (TBIJ) about alleged ties between Russian oligarch and ex-Chelsea owner Roman Abramovich and Vitesse." Two external investigations were started in July 2023, just over seven months ago, one of which focused on the Common Group. The first investigation has been completed. The second investigation, which is aimed at determining the extent to which (legal) connections exist or have existed between Vitesse and Abramovich, has not yet been completed. The decision on that investigation is expected shortly." The statement reads.

According to the professional football licensing system established by all professional football clubs, a decision on a takeover of at least a quarter of the shares must first be approved by the licensing committee. This measure is intended to prevent criminal money from circulating in professional football.

Vitesse is also fined 100,000 euros. The fine is due to Vitesse allegedly misleading the licensing committee by not informing them about the termination of the relationship between Vitesse and its bank while knowing that "this was essential for the assessment of the licensing committee regarding the continuation of the license in the new season."

The Arnhem club, who are bottom of the Eredivisie table, have until the 21st of February to appeal the decision.