Ironi Tiberias Facing Financial Collapse, Owner Representative Reveals
Translated & summarized from N12 by baba
Shimon Hadari, representative for Ironi Tiberias' owners, revealed the football club is facing financial collapse due to "surreal" management and concealed financial issues. Cars lacked inspections and players were uninsured, according to Hadari. The team could dissolve by January or February without new funding, despite a recovery plan involving salary cuts and potential investments.
The story in 5 lines · by baba
- Ironi Tiberias faces financial collapse, with potential dissolution by January or February.
- Cars lacked valid inspection certificates and players were uninsured, according to owner representative Shimon Hadari.
- Owner Aryeh Kalmanzon was unaware of the full extent of the club's financial problems.
- A recovery plan includes player salary cuts and seeks new investment and municipal support.
- Hadari plans to propose a regulation for relegation for teams with dual contracts.
Shimon Hadari, the representative of the owners of the Israeli football club Ironi Tiberias, has revealed the dire financial situation of the team, describing it as "surreal" and unlike anything he has encountered in his years in football. Hadari, who briefly resigned and then returned, detailed a recovery plan amidst what he called "delusional" management practices.
He cited examples of cars operating without valid inspection certificates ("test") and foreign players lacking insurance, putting their lives and futures at risk. Hadari stated that this information was concealed by the accounting department, with owner Aryeh Kalmanzon only becoming aware of the severity when it directly impacted him. Kalmanzon had previously provided funds and trusted the management, unaware of the extent of the problems.
Hadari plans to propose a new regulation to the Football Association that would relegate teams engaging in dual contracts. He also commented on Eliran Khodada's dual role as manager and player, suggesting he should have focused solely on football.
The club's survival hinges on securing new funding, with Hadari warning that without it, the team could face insolvency and dissolution by January or February. His proposed recovery plan includes players accepting a 10% salary reduction, which would be converted into a survival bonus if the team remains in the league. This, combined with potential municipal support and a NIS 3 million investment from a businessman, is intended to bridge a NIS 2 million monthly deficit and prevent the team's collapse. However, Hadari acknowledged that releasing players may be unavoidable.
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