When wealthy Chinese businessman Wang Hui took over Dutch club Ado Den Haag last year "there were promises of substantial investment and new sporting glory," according to Samindra Kunti of INSIDE WORLD FOOTBALL. But the "promises have gone unfulfilled." Ado Den Haag is a 110-year old club "from the Dutch heartland playing in the top flight Eredivisie." Early in '14 Wang arrived in The Hague "with the promise of turning the club into a new powerhouse on par with PSV Eindhoven, Feyenoord and Ajax Amsterdam." Wang "bought a 98% stake" in Ado for a reported €8.2M. But 18 months after Wang's "installation at the helm little support remains for the Chinese." Wang, who owns marketing company United Vansen Int'l Sports, "which helped organise the closing ceremony of the 2008 Beijing Olympics," did not invest a projected €3.7M in September. He then "failed to raise the money again in both November and December." Wang said, "I hope that ADO can get into the top five clubs in Eredivisie in three years -- that's my goal. To achieve this goal, we can invest more money and do whatever necessary." The financial problems at Ado "are acute with an imminent danger of unpaid salaries by the end of February" (INSIDE WORLD FOOTBALL, 1/25). DUTCH NEWS reported the Dutch FA (KNVB) said that it could "put ADO in administration over the debts it has run up as a result of the missed payment." Wang "did not appear at a shareholders' meeting last week and the club is in talks with the KNVB" on whether it can bridge a €1.3B ($1.4B) shortfall by the end of next month. Wang "broke his silence on Monday as he went on the counter-offensive," saying that he was "severely disappointed" in the club's management. He said, "The reason I'm not releasing any more money is that I want to know what they've spent it on first. You've apparently taken an advance on my investment, but what have you spent it on? So far I haven't seen one budget or business plan from ADO." Wang claimed the shareholders of Vansen Int'l were "furious" about the attitude of the club. Wang: "I am severely disappointed. There is no need at all for a club that I have invested my money in to regard me as an enemy. I don’t understand it. I think it would be better for Ado to think carefully about it, independently, by itself. About what has happened and what they can do now. That can’t hurt" (DUTCH NEWS, 1/25).
