Brøndby IF close to bankruptcy

Brøndby IF is perilously close to going bankrupt, which would leave the traditional club fighting for its very existence.

The club's management and the Danish Football Players' Association have been in discussions for several days on the so-called "holiday pay case", but DR News has learnt from Brøndby sources close to the discussions that the parties have now reached a stalemate.

"We haven't got any closer to each other," said one source.

Players' Association claims DKK 31 million
According to the Brøndby sources, the main bone of contention between the parties is a demand from the Players’ Association for third-party surety.

The Players’ Association is claiming DKK 31 million from Brøndby, but the club is unable to pay the money, which is why, according to the sources, the Players’ Association is demanding surety from Brøndby, for example in the form of a bank guarantee from Brøndby’s bank, Nordea.

Nordea, however, has reportedly refused to provide such a guarantee, so the parties are essentially just as far apart as when the discussions began.

Maximum three days left

The assessment of the once-mighty club is that there is now a maximum of three days to come up with a solution or else the club will go bankrupt. This is because players and other staff can declare their employer bankrupt after three days without pay.

Early last night, Brøndby issued a stock exchange announcement stating that there was still no outcome to the discussions.

“As a result of this, Brøndby IF has not paid wages to its employees as it is a condition for Brøndby IF's current capital plan that an agreement should be established with the Players’ Association. Brøndby IF regrets this unfortunate situation,” said the announcement.

According to the sources, there are no plans to continue the discussions tomorrow as the parties do not believe they can make any progress.