Dire situation for Pacific Media Group owned Oostende as club could go bankrupt by January

As reported by Voetbalkrant, the situation at Oostende has reached crticial. If a new investor is not found by the start of 2024, the club will more than likely have to file for bankruptcy. Over the past few seasons reports have revealed how the club has been financially mismanaged by the Pacific Media Group (PMG). The American group PMG also owns other clubs in Europe, such as Nancy and Barnsley. At the Yorkshire side, the fans were far from happy with the groups owners and despite their 40% stake in the club, they no longer have any day to day involvement in the running of the side.

Oostende suffered relegation last season and have struggled in the Challenger Pro League so far. If they fail to pay staff and players on time this month, they could face a points deduction. This may well be irrelevant given the financial situation and the future of the club at stake. There had been hopes of involvement from either Bournemouth or Newcastle’s owners, but so far that has not materialised.

GBeNeFN | Ben Jackson

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