Lyngby face crisis meeting
Friday, November 16, 2001
Article summary
Lyngby FC could be declared bankrupt if a move to merge with Danish first division side FC Farum is vetoed on 28 November.
Article body
Lyngby FC could be declared bankrupt if a move to merge with Danish first division side FC Farum is vetoed on 28 November.
No more money
The club has been struggling to stay financially solvent ever since owner Jørn Terkelsen announced that he had no more money to invest in the side. Lyngby have decided that the only way to ensure their survival is to merge with another club.
Merger option
Lyngby's executive director Peter Packness has announced that members of the boards of Lyngby and Farum will meet later this month to decide on whether to go ahead with a merger. Should the proposals be rejected, Lyngby will be declared bankrupt.
Deal collapsed
The Superligaen side attempted a merger with another first division side, AC Ballerup, earlier this month but the deal collapsed.
