Vitesse board bow out
Tuesday, April 15, 2003
Article summary
The board of Dutch club SBV Vitesse's board will step down following council intervention aimed at saving the club.
Article body
SBV Vitesse's board announced on Tuesday that they will be stepping down following a local council intervention aimed at saving the financially troubled club.
Vaessen announcement
Vitesse chairman Jos Vaessen announced the decision to comply with Arnhem council's plans for restructuring the Eredivisie outfit. The current board will stay in place as long as it takes for the council to put together a new one.
Future 'guaranteed'
A settlement has been reached with three board members, Jan Snellenburg, Cor Guyt and Herman Veenendaal, who have loaned the club €21m. Vaessen said: "The future of the club is guaranteed with this plan. That was the goal that we set out three years ago."
Relegation danger
Vitesse are currently 16th in the league standings, only four points ahead of bottom club De Graafschap. Since returning to the Eredivisie, Vitesse have achieved 13 consecutive top-six finishes, and this season reached the third round of the UEFA Cup, losing 2-0 on aggregate to Liverpool FC.
