Kloten Flyers rescued from brink of bankruptcy?
At the end of the season, the Kloten Flyers were skating on thin ice financially speaking but the club’s future could be on more solid ground now, thanks to a proposed investment by the heir to the Denner chain, Philippe Gaydoul and Zurich banker and SVP politician Thomas Matter. The duo has offered to invest 6 million Francs of their personal fortunes to save the hockey club that was facing bankruptcy, provided that certain conditions be met. This announcement was met by critics, who claimed the two were trying to buy the club at bargain basement prices.
Matter, however remains nonplused by the critics. “The EHC Kloten Sport AG has lost so much traction that a total sanitation is required in order to send the right signals.” And while the words were sometimes harsh, it is unfair that the pair, whose spontaneous decision to open their wallets to help rescue the local hockey team, should be made to pay for the past financial mistakes. Therefore they have set a limit to what they are willing to pay and have assigned a task force to examine what can be done to reform the financial side of the club.
While it is not yet a “done deal”, creditors and tax authorities agree that giving in to the conditions set out by potential investors would be better in any case than a total loss in the event of bankruptcy.