KV Oostende heads for bankruptcy as PMG refuses to co-operate in hunt for new owner
May 20 – In a damning indictment of Pacific Media Group’s (PMG) football club ownership model, Belgium’s KV Oostende is facing bankruptcy after the club failed to find a new owner.
The club had to submit an incomplete license application because of their financial problems. In a statement on the club’s website, the club’s temporary administrator Werner Van Oosterwyck said: “Without a license we will drop to the second amateur class, but we cannot pay off the large debt burden there.
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