The club from the Superliga asked to enter into a preventive arrangement: it risks insolvency or bankruptcy

The club on the banks of the Danube requested the Galati Court to approve the procedure for entering into a preventive arrangement, which is, in fact, the last step before entering into insolvency. In an interview granted yesterday to GSP.ro, Diego Zivulic, one of the most important players of the team in the last 3 seasons, said that he will no longer sign with Oțelul, because of the debts, “of the bonuses from last season, which were not paid at all. I had an understanding with the club's situation, I signed all the documents agreeing to the postponement of these arrears for April, so that Oțelul could get the license. But now they have came to offer me that money in several installments, the first in 6 months, the third in a year. I can't accept something like that, I don't know if I will sue the club, but it's not about the amount, but I've worked for it and it's normal to receive it.”

FRF had just announced that Oțelul is stable

Although, at the peak, the club reported a profit of 426,542 lei at the end of 2025, and in the last situation presented by FRF, about the financial stability and sustainability of the clubs in the Super League, the group from Danube appeared in the “good financial situation” chapter. Along with Craiova University, Csikszereda, Farul, Rapid and Sepsi.

Moreover, in this report drawn up by the Football House, based on the analysis of several economic and financial indicators, it is specified that “the clubs included in this category present financial indicators that reflect a good level of stability and the ability to support their current activity under normal operating conditions”.

Meanwhile, at the end of last month, Oțelul requested in court to enter into a preventive arrangement. So far the Court has not set a deadline, but it is expected that it will be soon.

Postpone debt payment for 3 months

Also at the end of 2025, Oțelul also presented the situation of the debts it was going to pay. The total amount was almost 4 million euros, of which 1.5 million euros went to the state's fiscal bodies.

Now, through this agreement, the club gets rid of paying debts on a daily basis, for only 3 months. But it must comply with the reorganization plan and not incur any further debts during this interval.

Otherwise, authorized sources stated for GSP.ro that “if they do not adhere to the arrangement, the creditors can directly ask for bankruptcy or the club must ask for exit from the arrangement and go directly into insolvency, as Poli Iași did”.

Another momentary advantage would be that once the procedure is opened and the plan is approved, the signatory creditors can no longer initiate enforcement proceedings against the club, for the duration of the arrangement.

Steel denies: “We are not on the verge of bankruptcy!”

Oțelul Galati reacted following the information on the sports websites and not only that it was on the verge of bankruptcy. He also drew up a statement in which it is stated that “SC Oțelul Galati is NOT on the brink of bankruptcy. The preventive arrangement procedure requested by the club is a legal instrument for reorganization and economic recovery, used to stabilize financial flows and protect current activity. This is NOT an insolvency proceeding and even less an indicator of bankruptcy”.

The Dunăre club specified in the same document that “the Romanian Football Federation itself highlighted yesterday, June 2, 2026, in an analysis on the financial sustainability of Romanian football clubs, the fact that SC Oțelul Galați is among the few clubs that have taken important steps towards financial balance and budgetary responsibility”.

The citizens of Galați accuse the sponsors from Liberty

In the same statement, posted on the club's website, the leadership of Oțelul blamed Liberty.

“The current situation is mainly generated by the non-execution of the contractual obligations assumed by Liberty Galați towards SC Oțelul Galaţi, based on a sponsorship contract worth approximately 2.4 million euros. The failure to collect these amounts, contractually and budgeted in the club's financial plan, has produced a temporary imbalance that requires reorganization and financial protection measures. At the same time, it is important to state that SC Oțelul Galati carried out its activity in full transparency and responsibility. The public financial data show that the company ended the last financial year with a positive balance, an aspect incompatible with the apocalyptic image suggested by some formulations in the press.

The preventive agreement is a financial management measure that allows the restructuring of obligations and the continuation of the activity under normal conditions, protecting the interests of the club, employees, creditors and the Galați community. Numerous economic and sporting entities use this procedure precisely to avoid the accumulation of greater difficulties and to ensure long-term stability. SC Oțelul Galați continues its sporting and administrative activity under normal conditions, respects its assumed objectives and works on the implementation of a recovery plan that will strengthen the future of the club”.