Tan backs off from sale of KV Kortrijk after Kaminski Group misses first payment

July 10 – Belgian club KV Kortrijk will remain in the hands of owner Vincent Tan after a proposed takeover by the Kaminksi Group failed to be completed.

On June 14, Kortrijk confirmed that the club had been taken over by the American Kaminski Group ‘subject to final approval’ by the Malaysian owner of the West Flemish outfit, Vincent Tan, had been looking for a buyer for several years. Tan had arrived in 2005 and despite pouring extra cash into the club, Kortrijk has endured a wobbly existence.

Following Tan’s intentions to sell, a series of other potential investors expressed interest, but they ultimately dropped out citing the asking price of €15 million as too high. In mid-June, it was rumoured that the Polish American Maciek Kaminski had put €17 million euros on the table.

That deal is now reportedly off after Kaminski Group did not meet the deadline on July 6 to pay the first instalment.

The Kaminski Group had previously also approached Everton in England but after six-month negotiations with Farhad Moshiri, Moshiri pulled the plug on discussion. It’s believed that the Kaminski Group want to pin down a club before they attract US investors to bankroll a deal.

Last year, Kaminski took control of the Greek top-flight club Panaitolikos.

For now, Tan, will remain in control of Kortrijk, who will commence the new season with coach Edward Still as head coach. He will presumably be up against another relegation battle.

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