Chinese owner of Den Haag finally pays up

Dutch premier league football club ADO Den Haag finally received an unpaid investment from its Chinese owner, according to a report from a Dutch news website.  

Hui Wang, the owner of United Vansen International Sports, promised to invest a considerable amount of money in ADO when he completed the takeover in 2014. Nevertheless, by January 2016 he had failed to make two crucial payments totalling €3.7m and the club was facing a liquidity crisis.

However, Wang’s recent payment seems to have got things back on the right track. Last Friday, Wang told the Dutch press: "Our business relationship had a difficult start but after the good discussions of the past month we are making it clear that we will continue together. Hopefully, we can now build up this great football club in peace."

ADO director Jan Willem Wigt said on the club’s website: “I am glad United Vansen has kept its promise. We will not comment on the amount paid, but it is more than enough to give us financial security.”

Source: dutchnews

Proofread by John Devlin.