Earlier news
16:40 20-October-2016

TTH Holstebro has financial problems

Categories: Scandinavia
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Written by: Rasmus Boysen

The Danish vice-champions and Champions League participants, TTH Holstebro, has an acute need for six million Danish kroner to strengthen the equity and for the functioning of the club.

Six million Danish kroner - converted into euros equalling to around 800.000. That is what the Danish club TTH Holstebro has an urgently need for. The Danish club has announced the following press release:

"Despite several years of bigger sporting success than the budget should justify TTH Holstebro over the past three years supplied deficit in millions. The club has an acute need for six million (Danish kroner) to strengthen the equity and for the functioning of the club.

- Despite massive sporting success for several seasons, it is a continuous challenge to get the economy to get togehter in TTH Holstebro. The season 2015-2016 resulting in a deficit close to 5 million Danish kroner, which is highly unsatisfactory. The deficit was due to higher costs related to our sporting success while we lost revenue, explains Jørgen Hansen, chairman of TTH Holstebro.

He is clear in his voice when it comes to the immediate future of the club.

- The budget for this season says right now a loss of 3 million Danisg kroner, and until we find the money, we can not say anything concrete about the club's future, and thus ensure league handball in TTH Holstebro, recognizes Jørgen Hansen.

The future of TTH Holstebro is to debate on a sponsor meeting on 25 October.

Based on the club's current economic challenges TTH Holstebro invite sponsors to a debate night about the future of handball in Holstebro. TTH want to discuss the club's opportunities and challenges in the hope that together with the sponsor circle to create the basis for an economically sustainable foundation for continued handball in Northwest Jutland.

- It is imperative that we togehter with sponsors and partners get a new strategy, adapted both economical and sporty. Once that is in place, we can together determine the club's sporting level and ambitions for the coming years. The sponsor's is the key to the club's future sporting level. We really need, that Holstebro and Northwest Jutand now really moving along, says Jørgen Hansen, who points out that the sponsor meeting on 25 October has decisive influence on the way forward.

- The persistent efforts to get income and expenses to make ends meet inhibit the club's opportunities to develop in peace. Therefore, it is now necessary that both money is injected here and now and furthermore ensures an economic foundation. Our goal is to enter into new partnerships with sponsors for three years until 2020. It will ensure that TTH Holstebro for the first time are able to plan sporty and strategically more than one season ahead, and it will contribute to long-term security of elite handball in Northwest Jutland, says Jørgen Hansen.

The Board of TTH Holstebro will in the next two months work towards a sustainable solution.

On 15 December 2016, the club's future strategy and "League Plan 2020" will be presented."

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