One of Norway’s top professional handball teams is in financial crisis, with all payments halted to employees and players, who in turn have been released from their contracts. “We can’t operation the club with the costs we have today,” the manager of Larvik Håndballklubb told state broadcaster NRK.
Newspaper Østlands-Posten had already reported how players and staff were called into an emergency meeting Monday evening and informed that the club’s board had decided to halt all payments immediately. By being released from their contracts, players can refuse to take part in matches and make themselves available to new clubs, although the deadline for transfers passed on February 15.
“We are very sorry for everyone affected,” said manager Pål Albertsen, who added that the board was working on a plan with creditors to save the club. He described the situation as “very serious,” adding that “the club’s existence” is at stake.
Larvik had long been Norway’s best women’s handball club, winning the Champions League in 2011. It has struggled financial for several years, however, and Albertsen said the club simply can no longer afford to operate as a top-league club in both Norway and Europe.
newsinenglish.no staff
