Currency Converter

Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).

From:
To:
 

SBD Global/May 2, 2014/Franchises

Division 2 Club Roasso Kumamoto Could Lose License Over Debt, Liabilities

J.League Divison 2 side Roasso Kumamoto is $610,000 in debt.
J.League Division 2 side Roasso Kumamoto faces revocation of its club license and possible expulsion from the league unless it clears 61M yen ($610,000) in debt and liabilities by August. GM Hiroyuki Miyamoto told SBD Global, "Starting today, we are approaching our existing shareholders, as well as new potential backers, and the local government, in an attempt to raise more capital. With our club license in danger, this is a very serious situation." The club is aiming to raise 70M yen ($700,000), including 30M yen from supporters and corporate sponsors, by the end of July.

FUND-RAISING EFFORT: Kumamoto collected 1.8M yen ($18,000) from supporters at its home game against Nagasaki on April 26. The club plans to keep asking for donations at matches at the 32,000-seat Kumamoto Athletics Stadium, where it averages gates of around 6,000. J.League spokesperson Rimia Ono said that seven J2 clubs were issued warnings last season about their club licenses, with finance and stadium facilities being the main problems. Ono said, "Regarding finances, the rules are that if a club operates in the red, and has debt for three consecutive years, its license can be taken away." The announcement on licenses is expected in September.
Return to top

Related Topics:

Franchises, Japan

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug