EC VSV seeks court-supervised restructuring for professional operation

EC VSV’s professional ice hockey operating company has filed for restructuring under external administration at the Klagenfurt Regional Court, Austrian broadcaster ORF reported Monday. The club said its youth and development programmes are not affected.

Managing director Oliver Bergauer said the company’s financial position proved significantly worse than initially apparent during a review of previous financial years. The company’s liabilities are estimated at 2.4 million euros, most of them linked to pending tax and contribution proceedings.

The restructuring process is intended to produce a plan with creditors that would allow the company and its professional ice hockey operation to continue. Bergauer said a liquidity shortfall of about 1.2 million euros had emerged after part of the season’s planned ticket-subscription and sponsorship income was used to cover liabilities from the previous financial year. The funds are needed to meet the proposed restructuring plan.

The filing concerns EC VSV GmbH, which runs the professional operation, and not the EC iDM VSV club association. Association chairman Manfred Herzog said the organisation’s activities for children, young people and junior players would continue unaffected.

The company’s management and the association’s board will coordinate next steps with legal and financial advisers and relevant sporting bodies. Staff, players, sponsors and other affected partners will be informed directly about developments relevant to them.