Poor Gyor

Does that rhyme? I know the answer. It depends if you are from East Yorkshire or not.

DSC_0182

Did we witness the last Gyor – MTK game?

Four time NB1 champions, Gyori ETO have been shaken by the financial strife of the club’s owners and brokerage firm, Quaestor Financial Hrurira Kft. A week ago, the company filed for bankruptcy following the suspension of its brokerage licence following allegations that the company had sold more bonds that it was entitled to. Basically collecting money from unsuspecting customers in return for non-existent loan notes.

Although it is unclear whether the bankruptcy proceedings are merely being used for the purpose of raising some capital before entering into a creditor arrangement or whether we are witnessing the genuine closing down of the football club’s owners, things do not look too rosy for the club. Quaestor are also the owners of ETO Park and the adjoined hotel and shopping complex. To confound matters, Audi have severed their sponsorship of the club further drying up funding.

It is difficult to see where the club will go from here. At the very least, I think we will be seeing the extreme tightening of budgets and potential fire sale of high earning players (Priskin, Gergely).   At the very worst, this could be the end of one of Hungary’s bigger clubs. The statement released by the club that they would be able to participate in tonight’s game against Lombard Papa, just goes to highlight that there was a doubt whether that game would/could proceed. This does not bode well and raises questions as to whether the club will even be able to finish the season.

Watch this space.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s