9 million euros in debt! The Super League club has OFFICIALLY requested insolvency: “Things don't sound good”

“Suffocated” by acute financial problems, the group on Ilie Oană had to resort to this radical measure to avoid total collapse and bankruptcy.

The announcement was confirmed by Cristian Fogarassythe vice-president of the club, who explained the Prahoven strategy for the critical period that will follow under the command of the Turkish technician Mehmet Topal, according to fanatik.ro.

Petrolul Ploiești requested the opening of the insolvency procedure! Debts of 9 million euros

Petrol's financial situation became unsustainable, with the club's total debts accumulating to the limit of 9 million euros.

In an attempt to save themselves, the residents of Prahoven initially entered into a preventive arrangement, but this procedure was not sufficient.

The move to insolvency is now the only move by which management hopes to achieve a substantial cut in financial obligations through a judicial reorganization plan.

“We requested the insolvency of the club at the Prahova Court. Bankruptcy is not knocking on the door. We have a well thought out plan, we needed to go into insolvency to be able to implement it.

I know things don't sound very good, but insolvency is not a bad thing, it is good for the continuity of the club. It all depends on the insolvency plan to be approved“, said Cristian Fogarassy, ​​according to the cited source.

The Romanian state, the main creditor: “We hope that the debts will decrease consistently”

The official from Petrolul admitted that the purpose of this legal move is to erase a good part of the arrears. Almost half of the black hole in the club's budget is represented by donations to ANAF.

Of the 9 million euros owed in total, approximately 4.4 million euros are obligations to the tax authorities, an amount that also includes late payment penalties of 2 million euros.

Fogarassy also launched an attack on local authorities, complaining about the lack of financial support in recent years.

Everything will be done legally, I am not a hypocrite, I do not hide that we hope that the debts will decrease consistently. Unfortunately, in the last five years, Petrol, which is an important symbol of the city, has not received a single leu from public money.

Other cities give 2 and 3 million euros per year to football teams, thus supporting the community and attracting children to sports.

– Cristian Fogarassyvice president Petrolul

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