Vitesse approached by various parties hoping to keep the club alive financially

Football club Vitesse is speaking to an investment company in Bahrain that has links to funds from the United States in an attempt to save the club. Vitesse was unwilling to confirm the names of any parties in negotiations with the club.

The Gelderlander was the first organization to report the story, which was based on conversations with sources close to the troubled club in Arnhem. A spokesperson for the club did confirm that various parties, including international parties, have approached Vitesse.

The Arnhem club has a 19 million euro debt and must present a rescue plan before May 17. If they are unsuccessful, the licensing committee at Dutch football association KNVB will move to withdraw the club's professional football permit.

That would prevent the relegated side from playing in the Eerste Divisie. Dutch professional football's second tier football league is currently called the Keuken Kampioen Divisie due to its sponsorship deal.

American businessman Coley Parry was not allowed to take over Vitesse, the appeal committee from the KNVB reported on Tuesday. This is not necessarily bad news for Vitesse, as it could allow the club to take control over Russian oligarch Valeriy Oyf's shares, and place it into the foundation, Vitesse voor Altijd.

ING will not continue to be Vitesse's banking services provider as long as Oyf is the owner. That would also prevent an accountant's office from signing off on the club's annual accounts.

Parry is also owed over 14 million euros worth of loans, interest, and penalties from Vitesse. He said he does not want the club to pay that back while it is in a dire financial situation. Parry does hope to get the money back from any potential new investors.