ADO Den Haag in action (Photo : Twitter)
Dutch football club ADO Den Haag now has a brighter future with the Eredivisie after its Chinese owners have finally completed payment of the money owed to the company.
Fully Paid
The club announced on Friday that its owning company United Vansen (UVS) has completed the release of the 2.5 million euros that it owes the team, Dutch News reported.
ADO received an initial payment of 500,000 euros on Jan. 19, as part of a court ruling earlier. The remaining 2 million euros was then deposited to their account last week.
ADO sought the intervention of the court in The Hague after UVS was not able to meet its financial obligation to the team. The court then deemed that the company should pay the team the amount in accordance with the two parties' takeover agreement in Aug. 2015.
The money paid to the team means that they now have the funds to keep going into the upcoming season.
ADO CEO Mattijs Manders said that the new funding will likely be used in the current transfer window to bolster the team.
ADO is currently in the 15th spot in the Eredivisie.
Strained Relations
Manders said that he was relieved that UVS has now fully paid their obligations. However, he added that there is still a lot of work that they need to do for the team.
The ADO head also said that they have yet to discuss the two parties' future after the strain in their relationship caused by the development, China.org reported.
Wang Hui, chairman of the board of UVS, was more optimistic about the situation, saying that the company is looking forward to reestablishing a healthy relationship with the club.
Wang was earlier suspended as the chairman of ADO's supervisory board following the decision of the court on the matter.
The court also ordered that the share UVS has on ADO be handed to an independent administrator while investigations were being conducted.
