Vålerenga Fotball faces multi-million deficit – breached tax payment law

Vålerenga Fotball faces a deficit of over five million kroner. This happened after the club budgeted for a surplus of 3.5 million kroner.

What happened?

The club had budgeted for a surplus, but ended up with a deficit of over five million kroner. This is due in part to the fact that kiosk operations and own arrangements/cups delivered a combined result that was 4 million weaker than budgeted.

Why is this important for Vålerenga Fotball?

It is dramatic to have significant deficits for several years in a row, especially when there are no credible reasons behind the negative results. The club must improve its financial management going forward.

What comes next?

The club will have to undergo a thorough review of its economy and find solutions to get back on track. This may include cutting expenses and finding new sources of income.