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21/04/2016

FC Twente and Doyen Sports joint statement

Doyen Sports and FC Twente have reached an agreement to end their contractual relationship. The sports company started working with FC Twente in 2013, with a Third Party Investment deal by which Doyen Sports provided €5 million to the club. At that time, FC Twente was in a delicate financial situation, and Doyen Sports was approached to provide an adequate solution for the club. No other investor or entity at that time was willing to provide the required funding, fundamental to the club at that moment. However, Doyen Sports’ vast experience in the football industry allowed it to provide a financial lifeline to the historic club.

 

FC Twente and Doyen Sports have now agreed terms on which the contractual relationship will be terminated, for the benefit of the club. Under this agreement Doyen Sports has extended the payment deadlines, allowing the club to improve its financial situation. FC Twente highlights the fact that Doyen Sports has been a loyal partner throughout the relationship, entirely respecting the decisions of the club. Both parties are grateful for the positive and collaborative relationship which allowed the individuals involved to find adequate solutions for the club at a delicate moment in its long history. Excluding this last agreement, the parties no longer have contractual obligations to each other.

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