Vitesse announced a new ownership consisting of five investors whose identities will be revealed at a later stage.
"Vitesse can report the happy news that it has found five new shareholders," Vitesse announced in a statement on their website.
“The five-man team took immediate ownership of the club after taking over the debt from Common Group and then converting it into shares. With that, Vitesse also has positive equity again.”
Due to all five investors owning less than 25 percent of the club and thus becoming minory owners, Vitesse were able to avoid having to go through the approval process of the KNVB and its licensing commission.
“The coming period will be used by the new shareholders to assess Vitesse's financial and sporting stability and hold talks with the club's key stakeholders,” Vitesse continued in the statement.
"The new shareholders explicitly choose to introduce themselves personally to Vitesse's supporters and stakeholders. This will happen very soon.
"Until then, the five-man board will remain behind the scenes."
On the verge of bankruptcy
The club from the city of Arnhem were on the verge of bankruptcy ever since the takeover from the Common Group of American owner Coley Parry got rejected by the Dutch football association KNVB.
Parry bought the club after Russian oligarch Valeriy Oyf was forced to sell Vitesse due to European sanctions imposed on Russia after the war in the Ukraine had broken out.
Parry was forced to leave the club after the KNVB's licensing commission rejected the takeover on grounds of Perry not being able to show where he generates his gunds.
The American investor left the club with a debt of €17 million, a burden which not many new investors wanted to carry and made a potential takeover hard to realise.
Vitesse later found a potential new owner in local investor Guus Franke before he pulled out, blaming Parry for pulling the plug on the agreement.
A new period of uncertainty ensued for Vitesse, who got hit with a big points deduction from the KNVB after not being able to deliver their annual financial reports. The points deduction from this season amounted to a total of 27 points, leaving Vitesse dead last in the Dutch second division with -8 points.