RRI Sports Club – FC Dinamo Bucharest, on the verge of bankruptcy
The Football Club Dinamo Bucharest is in a very difficult financial situation.
România Internațional, 15.04.2020, 13:45
The Football Club Dinamo Bucharest is in a very difficult financial situation. Majority stakeholder, Ionut Negoita, has publicly announced he is no longer willing to invest and that the club needs 180,000 euros to cover its debt and the cost of the license that allows it to take poart in the First Leagues 2020-2021 edition.
The teams supporters have mobilised and in three days alone they managed to collect 55,000 euros for the licese. Nevertheless, the problems are not over. On Tuesday the club posted on its official website its financial report for 2019, showing that the team spends more than it produces. Revenues from current activities stand at 16.6 million lei, while expenditure accounts for almost 26 million lei. Thus, the difference between revenues and expenses is almost 2 million euros. Against this background, the clubs bankruptcy is almost certain in the absence of an investor. The makority stakeholder says he is willing to give up his 8% for the symbolic amount of 1 leu, to anyone interested. The problem is, however, what happens next. It takes several million euros to keep the club afloat and prevent valuable players from leaving the team.
In terms of football results, Dinamo stands worse than ever, as they missed the playoff and stand 4th in the playout. The suspension of the championship games has created new problems. Players are now in technical unemployment and only receive 500 euros a month. Moreover, the media speculates that after the state of emergency is lifted, a number of players will have their salaries diminished. Dinamo is a landmark team in the history of Romanian football. It won Romanias First League championship 18 times and Romania s Cup 13 times. In the 1983-1984 season, Dinamo Bucharest was the first Romanian team to make it to the semifinals of the European Champions Cup. (translated by Elena Enache)
