Újpest Stays In The First League

The last obstacle is clears from Újpest, the Trustee of Bankruptcy allowed the transfer of the team’s license.

As we have reported previously, Újpest face the threat of relegation and bankruptcy. The club’s owner, Roderick Duchatelet claimed that offshore companies made up a network around Újpest FC to get as money as possible from the team. Although his statements were supported by a NAV report, the companies tried to prove their right at the court. This introduced the possibility of the end of professional football at Újpest.

Duchatelet, however, made every possible effort to save the club. He initiated the transfer of the club’s licence at the Hungarian Football Association (MLSZ) to a new, debtless company. The MLSZ agreed on one condition: a Trustee of Bankruptcy had to approve it first. Nevertheless, the Belgian businessman considered this as a failure; he told that he will leave the country and the club if Újpest ceases to be.

The trustee, fortunately for him and Újpest, approved the request. This way, the license, which was owned by Újpest FC Kft, will be transferred to the new, debt-free company called Újpest 1885 Futball Kft. This means that the second oldest team of Hungary can finish the championship, will not be relegated and avoids liquidation.

by Oliver Tamasi

Photo: www.ujpest.hu

Source: http://dailynewshungary.com/