Tiberias Soccer Club Faces Collapse Amid 3 Million Shekel Debt
Translated & summarized from 0404 by baba
Hapoel Tiberias soccer club is facing potential collapse with over 3 million shekels in debt and a warning of insolvency proceedings. A key debt of 200,000 shekels to a former employee must be settled within five days to avoid legal action. The club is also dealing with another lawsuit and poor performance on the field, currently sitting last in the Premier League.
The story in 5 lines · by baba
- Hapoel Tiberias soccer club faces collapse with over 3 million shekels in debt.
- The club received a warning of potential insolvency proceedings.
- A 200,000 shekel debt to a former employee must be paid within five days.
- The club is also involved in a 237,000 shekel lawsuit from a former player.
- Hapoel Tiberias is currently last in the Premier League standings.
Hapoel Tiberias, an Israeli soccer club, is on the brink of collapse due to severe financial difficulties, with debts exceeding 3 million shekels. The club has received a warning of potential insolvency proceedings.
A central issue is a debt of approximately 200,000 shekels owed to former equipment manager Ilan Ben Dayan. Despite a September settlement agreement, the payment has not been made. Ben Dayan's lawyer, Shay Tal, has warned that legal action, including insolvency proceedings, will commence if the debt is not settled within five days.
The club is currently managed by trustee Liza Chadash, appointed following a dispute among the club's owners. Her role involves overseeing payments and developing a recovery plan to ensure the club's continued operation.
Adding to its financial woes, Tiberias faces another lawsuit for about 237,000 shekels filed by former player Jonathan Tepper concerning a player registration issue. On the field, the team is struggling, currently last in the Premier League after a 2-0 loss to Hapoel Be'er Sheva. Defender Sambinha, having completed a three-month suspension, cannot play as his contract has not yet been approved by the budget control authority. The club hopes to resolve his status before their upcoming match against Hapoel Tel Aviv on Saturday to prevent further escalation of the crisis.
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