“Still time for Vitesse”: Coley Parry calls on interim management and looks to suspend debt

Vitesse’s investor Coley Parry has been very critical of interim directors Edwin Reijntjes and Paul van der Kraan after the pair submitted a budget for the new season to the licensing committee last Monday, despite being in debt to the American.

Parry has released an urgent statement through his Common Group investment company, claiming that “a huge mistake” has been made and that, “it is better to be a realistic, living club than an ambitious, dead club.” Parry has made an appeal to the current club management and also says that he is prepared to suspend his claim for the reimbursement of 14.3 million euros until July 2025.

Out of respect for the fundraising at Vitesse, Common Group did not want to go public in recent weeks, but due to events and publications in the last days we would like to clarify a number of points,” Parry’s investment company said on Wednesday. “We call on Edwin Reijntjes and Paul van der Kraan to reduce the budget deficit and immediately submit it again to the licensing committee.”

Parry has suggested he may be prepared to defer the repayment of his loans for another year. “We hope that other creditors will do the same if that is possible for them. The process for a new investor can continue. We have requested a meeting with the club management for Thursday to continue this initiative and we will be on the first flight to the Netherlands. There is still time for Vitesse.”

According to Parry, only a ‘neutral budget’ can convince new investors to join Vitesse. “All parties who came to the table were asked to submit a guarantee for next season to cover a multi-million deficit identified by the club’s current interim management. In all discussions with potential investors, this appeared to be the most difficult hurdle to overcome and also the reason for most, if not all, parties to withdraw from the process.”

GBeNeFN Max Bradfield

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