Vipers Kristiansand’s board to decide on bankruptcy amid financial crisis

Vipers Kristiansand’s board is set to meet to decide whether the handball club should declare bankruptcy. Chairman Peter Gitmark indicated that disagreements are likely to arise during discussions. He noted that the club has not secured enough funds to sustain operations until next summer.

Recently, two significant donations were received, but Gitmark emphasized that the board must evaluate if these contributions, along with sponsorship opportunities, are sufficient. Just three and a half hours before the board meeting on Sunday evening, Gitmark revealed that the club is still not out of the woods and clarified that player salaries or releasing players will not be considered.

Vipers is facing an imminent financial crisis and needs several million kroner by Sunday evening. Earlier this week, Gitmark stated that the club required 25 million kroner by Friday to avoid bankruptcy. This deadline was extended to Sunday. After a decisive win against Buducnost, news of a substantial donation initially raised hopes, but they quickly diminished. Gitmark shared that despite the positive news, a subsequent message indicated that the contributions would not materialize due to internal disagreements within the donor’s organization.

In response to the financial struggle, supporters have rallied to aid Vipers. Fan Christopher William Abram launched a fundraising campaign that has raised over 40,000 kroner since Saturday. Gitmark expressed gratitude for the generous community support and the interest from sponsors in preserving the club.

Vipers’ board meeting scheduled for 8 PM will ultimately determine if the club will declare bankruptcy on Monday morning. However, Gitmark remains open to the possibility of another postponement if ongoing negotiations with serious partners continue.