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Sunday, May 19, 2024

Football club Lyn files for bankruptcy

Oslo football (soccer) club FK Lyn finally had to head into bankruptcy court this week, after years of financial trouble. Its officials hope to revive the club, but longtime fans were in mourning.

“Well, I guess I’ll just frame my season ticket,” one longtime fan, former sports writer and Norwegian Idol judge, Tor Milde, told newspaper Dagsavisen. “This is bitter and sad.”

After more than 100 years in the top Norwegian league, its bankruptcy has relegated it to the minors and completely changed its playing schedule. It no longer will have matches against other top clubs.

The club took on heavy debt buying expensive players, ticket sales have declined and it was involved in a spectacular conflict with Manchester United and Chelsea involving the use and sale of young Nigerian player Mikel John Obi. That led to a management shakeout, legal problems and the ultimate withdrawal of Lyn’s financial backer for many years, Atle Brynestad.

Lyn’s current management declared the club bankrupt on Wednesday but said operations would continue and they hoped to build up a new Lyn team.

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