FC Kryvbas launches bankruptcy procedure

"Today it was announced at a general meeting of employees of the Kryvbas football club that due to the impossibility of further funding, the club will launch bankruptcy procedures," reads the statement.

All employees were given two weeks to complete their work and take away their property.

Earlier, the committee for the certification of football clubs at the Football Federation of Ukraine (FFU) decided to deprive FC Kryvbas Kryvy Rih of its certificate for participation in the Ukrainian Premier League in the 2013-2014 season.

One of the reasons for the decision was the club's failure to arrive for the match of the last round against Volyn Lutsk. Kryvbas also had no money in its accounts, and the players did not have their salaries paid for several months.

Kryvbas coach Oleh Taran decided to resign from the post. He motivated his decision by uncertainty about the future of the club.

Kryvbas's place in the Ukrainian Premier League will most likely be taken by Hoverla Uzhgorod. However, the club from Uzhgorod has to repay wage arrears to footballers by June 14 in order to get a certificate.

ap