<div align="center"><i>"There's somethin' happenin' here.<br /> What it is ain't exactly clear."</i></div> As much as we would like to inform you about what’s going on with the Bohemians football club, we have to disappoint you. To be honest with you, we simply don’t know.<br /> What’s clear is that the current ownership group of Mr.Vejsada and Mr.Křížek does not have enough financial strength to be able to carry the club. What makes the task of carrying the club financially even more daunting is that the club is saddled with large debts left over by previous ownership groups.
The club’s accounting is in disarray as creditors seem to be coming out of woodwork with their claims that had not been registered in the club’s ledger. Nobody seems to know how many as yet undisclosed claims are out there. Moreover, some of these claims carry steep penalties. One of the previous owners, Mr. Švarc, who is largely responsible for a financial mess the club is in today, did not hesitate to sign contracts carrying a late payment penalty of 1% a day although he did not have any intention to pay on time (or at all). Some say that he was that dumb, some speculate that he was planning to split (illegally) the proceeds from the late payment penalties. We feel that he could not have been that stupid as he did very well for himself during his reign at Bohemians. However, it has been reported that police are snapping at his heels. Justice at last?
To the best of our knowledge, there were three possible choices for Bohemians:
Number one was a switch with Opava. The Opava football club majority owner is a Ukrainian company called UB Corporation (incorporated in Switzerland). Opava, under UB Corporation, managed to accumulate a debt that is as large as, or larger than the debt carried by Bohemians. UB Corporation is supposedly interested in moving the Opava club to Prague. All other details of this transaction are not known. Opava called a shareholder meeting for December 10. Until then, nothing will happen. Opava is dead last in the first division standings.
Number two – the former general manager of Bohemians, Mr.Emil Kristek, put together a respectable group of investors willing to take over Bohemians with all their debts. Mr.Vejsada, who seems to be favouring the Opava option, rejected this bid out of hand. By doing so, he also indicated that Mr.Kristek intentions were not honest. Mr.Kristek got offended and subsequently withdrew his bid. Later on, both men met and issued a joint statement that they will work together to help Bohemians the best they can. The whole incident left a bitter taste in the mouth.
Option number three – bankruptcy proceedings. This is an option that is feared by some. However, if precedents are something to go by, two first division clubs (Brno and Drnovice) went through bankruptcy proceedings a few years ago and emerged from it with new owners and debt free.
In the meantime, the club is under a threat from the Disciplinary Committee of the Czech Football Association. If Bohemians don’t settle their debts towards “football subjects” (meaning clubs, coaches and players) by November 30, three points will be deducted from their point total. If this measure does not bring a desirable result, three more points will be deducted, up to a total of 12 points. The club supposedly owes approximately 10 million Czech crowns to “football subjects.” As if Bohemians had an abundance of players, Mr.Vejsada offered players in lieu of money. So far it appears that there are no takers.
And that’s all for now. Many thanks to all of you who expressed their interest and concern about our beloved football club. If there are any new developments in the sad saga of Bohemians, we will inform you promptly.
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