Updated  
November, 29 2012 10:04:07

Two football teams fold amid finances debacle

V-League's Ha Noi Football Club and its sister team, the First Division's Youth Ha Noi FC, will not feature in the coming season due to a lack of funds.

During a meeting on Tuesday, executive director Le Xuan Thong said due to the shortage of cash, both teams would not compete and players were allowed to find new clubs.

Since chairman Nguyen Duc Kien was arrested months ago for business improprieties, almost all of his properties have been blockaded.

Meanwhile the two teams need at least VND55 billion (US$2.6 millions) to meet the conditions of their respective tournaments, whose kick-off dates have yet to be confirmed.

According to Thong the huge amount is impossible to raise, although the teams have tried to sell their most valuable players, including three-time Golden Ball winner Le Cong Vinh and national team member Nguyen Thanh Luong, in a bid to plug the shortfall.-VNS

Send Us Your Comments:
Name:
Your E-mail address:
Title:
 

VietNamNews may edit your comments and not all emails will be published.

Highlight

Mekong summit calls for greater riparian co-operation Mekong summit calls for greater riparian co-operation

Mekong River riparian countries have improved co-operation since the first Mekong River Commission (MRC) summit held in Thailand four years ago, a senior Vietnamese official has said.

Viet Nam attempts to hold back deadly measles strain Viet Nam attempts to hold back deadly measles strain

The head of Viet Nam's General Department of Preventive Medicine, Tran Dac Phu, announced on Tuesday that the department would work to contain the outbreak of measles over the coming months.

Da Nang plans a greener future Da Nang plans a greener future

The central city of Da Nang will have a face-lift as it becomes a green city following the Prime Minister's decision on the city's adjusted master urban plan for 2030 and 2050.

Delta households face water shortage Delta households face water shortage

More than 377,000 people in the Cuu Long (Mekong) Delta face a fresh water shortage because of saline water intrusion in the area, according to the National Centre for Rural Clean Water Supply and Environmental Sanitation.

Ha Noi to host National Shooting Cup 1    Ha Noi to host National Shooting Cup

The National Shooting Cup is scheduled to take place in the Ha Noi-based National Sports Training Centre from April 16 to 24.