The situation is slowly but surely getting dire for ADO Den Haag. The club from the Hofstad announces through the official channels that there is currently no more takeover candidate, after Het Haags Collectief (consisting of Ed Maas, Jeroen Lentze and since a week also Martin Jol) and Vanad (from Ad Nederlof) dropped out. ADO writes that the club still has less than a month to come to a solution.
Over the past week, talks with Het Haags Collectief (HHC) and Vanad broke down. The Haags Collectief did not want to sit down with the other shareholders and the current club management. Vanad did not come to an agreement with United Vansen, the Chinese party that currently still owns ADO. The club writes that Vanad preferred to become the new owner. “Despite the very constructive negotiations with Vanad, it appeared that no agreement could be reached between UVS and Vanad,” writes ADO.
“Vanad did not want to pay UVS a purchase price for the shares and UVS had been informed that HHC was willing to do so. It has also become clear that Vanad wants to reach an agreement in advance with the municipality of The Hague about a drastic reduction in rent. So drastic that the new rent would violate state aid rules,” the statement continues. Because Het Haags Collectief would make a larger amount available, the talks with Vanad were terminated. A takeover by Het Haags Collectief went awry, however, because this party did not want to talk to ‘the management of ADO Den Haag and the bodies involved’. “HHC has not been able to show that it has been a serious candidate.”
“The current state of affairs is that there seems to be no more takeover candidate and that therefore the WHOA agreement cannot be implemented,” says ADO. With the so-called WHOA agreement, a construction has been devised to pay off the debts as soon as there is money for it. As long as ADO is not taken over, however, there is no money for it. “ADO Den Haag will of course check whether a new shareholder and investor will emerge. ADO Den Haag seems to have until the end of the month to come to a solution.”
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