By Jaroslaw Adamowski
January 23 – Poland’s Stomil Olsztyn is close to bringing on board a new investor with the aim of putting club’s finances into order and prevent the club going bankrupt.
“There is an entity which wants to invest in Stomil on the condition that the club is transformed into a joint-stock company,” said chief executive Robert Kiłdanowicz.
Stomil currently plays in the I Liga, the country’s second tier.
The unnamed investor is to become the club’s new majority shareholder, replacing the municipal authorities of Olsztyn. The latest announcement follows Stomil’s decision to file for insolvency with a possibility of reaching an agreement on restructuring. This will enable the Olsztyn-based club to continue competing in the I liga in the current season despite its financial woes.
Stomil’s situation was recently aggravated by the withdrawal of its main sponsor, shopping mall Galeria Warminska.
Last year, the side outlined plans to build a new 12,000 capacity stadium in a bid to lure new supporters, with Stomil struggling to push its way up Poland’s league structure. According to earlier media reports, the designed facility was estimated to be worth about PLN 50 million (€11.7 million). However, despite earlier statements, a tender to launch design works on the new stadium has not been launched.
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