Russia’s invasion of Ukraine is causing Russian citizens with property halfway around the world to lose or voluntarily divest themselves of their property.
Such situations are also occurring in the sporting arena. Recently, Chelsea’s owner for almost two decades, Russian Roman Abramovich, was forced to put his team up for sale because of the Ukrainian conflict.
Abramovich’s close friend is another Russian oligarch, Valeriy Oyf, owner of the Dutch football team Vitesse Arnhem. In the wake of the war in Ukraine, Oyf has decided to sell his shares in the club so that the economic restrictions and sanctions imposed from Europe on Russian assets on the continent do not affect the continuity of the Dutch team.
“It pains me a lot to say goodbye to Vitesse, but in the current situation I am taking this difficult decision in the interest of the club, employees, supporters, sponsors and other interested parties,” Oyf said in a press release.
Ibiza nightclub owner interested in buying
As published in the Dutch press, one of the first interested parties in acquiring the club is the Dutch real estate tycoon Michael van de Kuit who, besides being the owner of the Gelredome stadium, where Vitesse plays, and other businesses, also owns properties in Ibiza through his company Nedstede.
One of the 52-year-old tycoon’s assets on the island is the nightclub Eden, in Sant Antoni. Van de Kuit acquired the Ibizan nightclub in around 2010 and completely renovated it, with a complete overhaul that was completed in 2013. This 2022 season, Eden nightclub reopens its doors, like the rest of the nightclubs on the island, after two years closed due to the coronavirus pandemic.
Although we will have to wait and see if Van de Kuit, with a fortune valued at 210 million euros, takes over Vitesse, the Dutch press recalls that his relationship as the team’s ‘landlord’ has been very tumultuous.
Dutch newspaper De Telegraaf recalls that Vitesse has been clamoring for years against the stadium lease, which stipulates that the Arnhem club must pay for it the generous sum of €1.8 million per year. In 2018 this led Vitesse to terminate the lease of the Gelredome as of October 1st, 2023. The club wanted to negotiate better lease conditions using the trump card that Vitesse cannot be penalised due to the perpetual playing rights that have been stipulated, but Van de Kuit is undeterred to this day.
During the coronavirus pandemic, Vitesse and Van de Kuit even clashed in court. Because the competition had been stopped by covid and Gelredome was not used, Vitesse asked for the rent to be halved. Van de Kuit reacted angrily and threatened to declare the club bankrupt. In the end, Van de Kuit, who has a reputation as a tough businessman who is quick to take legal action, won in court and Vitesse had to meet the financial obligations plus default interest.
Vitesse, sixth in the league and qualified for quarterfinals of the Conference League, indicated that “a careful procedure” will be followed in the sale of the shares “so that the continuity of the club is guaranteed.”
For the full article, please visit Diario de Ibiza website here.