“Still time for Vitesse”: Coley Parry calls for interim management and considers debt suspension

Vitesse investor Coley Parry has been very critical of interim directors Edwin Reijntjes and Paul van der Kraan after the two submitted a budget for the new season to the licensing committee last Monday despite being in debt to the American.

Parry has released an urgent statement through his investment company Common Group, claiming that “a huge mistake” has been made and that “It is better to be a realistic, living club than an ambitious, dead club“Parry has lodged an appeal with the current club management and also stated that he is prepared to suspend his demand for the repayment of €14.3 million until July 2025.”

“Out of respect for the fundraising at Vitesse, the Common Group has not wanted to go public in recent weeks, but due to events and publications in recent days, we would like to clarify a few points,“Parry’s investment firm said on Wednesday.”We call on Edwin Reijntjes and Paul van der Kraan to reduce the budget deficit and resubmit it to the Licensing Committee without delay..”

Parry has indicated that he may be willing to defer repayment of his loans for another year.”We hope that other creditors will do the same if they can. The process for a new investor can continue. We have requested a meeting with the club management on Thursday to continue this initiative and will then take the first flight to the Netherlands. Vitesse still has time.”

According to Parry, only a “neutral budget” can convince new investors to join Vitesse.”All parties who sat down at the negotiating table were asked to provide a guarantee for next season to cover a multi-million deficit identified by the club’s current interim management. In all discussions with potential investors, this seemed to be the most difficult hurdle to overcome and also the reason for most, if not all, parties to withdraw from the process..”

Max Bradfield