Dutch club receives payment, Chinese takeover imminent

The Hague: Chinese sports marketing company United Vansen has fulfilled all its financial obligations, clearing the path for its takeover of Dutch football club ADO Den Haag.

Current ADO owner Mark van der Kallen confirmed Friday that he received the money involved in the acquisition, according to Dutch media around 8 million euros, from the new owner. With the official transmission of the shares, scheduled for next week, the deal will be complete, reports Xinhua.

In July last year, the contracts were already signed and then the long wait for the money began. Several deadlines were exceeded, but that period of uncertainty came to an end Friday.

United Vansen's owner Hui Wang is expected to attend a shareholders meeting next week.

"ADO Den Haag is delighted that the transfer of shares may take place and we can now begin a new phase in our history," said ADO's general director Maarten Fontein in a press release.

"On a beautiful moment, just before our 110th anniversary."