Khatoco Khanh Hoa Club faces the risk of ceasing operations

On July 21, Mr. Nguyen Phuong Tuan - Director of Khatoco Khanh Hoa Club, said that Khanh Viet Corporation has sent a document to the People's Committee of Khanh Hoa province requesting to terminate the operation of Khatoco Khanh Hoa Club. The document was sent based on the conclusion of the State Audit on issues that need to be handled during the operation of the Club.

According to the conclusion of the State Audit, the establishment of a dependent accounting unit of Khanh Viet Football Club by Khanh Hoa Corporation "has not complied with the Prime Minister's direction and guidance" on restructuring state-owned enterprises in the 2021-2025 period. The audit also pointed out that football activities are outside the main business lines and are not in accordance with the law on enterprises. In particular, since its establishment in September 2024, the club has caused large losses with a loss of more than VND 4.2 billion in the fourth quarter of 2024 and a loss of more than VND 3.5 billion in the first quarter of 2025, "greatly affecting the overall efficiency of the enterprise's production and business activities".

CLB Khatoco Khánh Hòa đối mặt nguy cơ chấm dứt hoạt động- Ảnh 1. — Khatoco Khanh Hoa Club participates in the 2024-2025 First Division with many young players

According to the Director of Khatoco Khanh Hoa Club, the conclusion of the State Audit has pointed out the issues that need to be addressed, so Khanh Viet Corporation must send a written request to resolve the issues according to the auditor's recommendations. This is a mandatory move to comply with regulations. The final decision will belong to the Khanh Hoa Provincial People's Committee.

It is known that Khatoco Khanh Hoa Club terminated the labor contracts with all members of the team in July. Currently, only 3 officials from Khanh Viet Corporation in charge of football continue to work to handle the work in the transition period. Regarding future plans, if the company continues to take over, it will start re-signing labor contracts with members from August 1 and recruit more personnel to supplement the team.

Facing the risk of ceasing operations, Khatoco Khanh Hoa Club has just completed the 2024-2025 first division season with remarkable achievements. The team finished in 5th place out of 11 with 21 points after 20 matches, including 5 wins, 6 draws and 9 losses. This achievement is especially meaningful when looking back at the difficulties the club has faced since the beginning of the season.

CLB Khatoco Khánh Hòa đối mặt nguy cơ chấm dứt hoạt động- Ảnh 2. — Due to ineffective youth training, last season Khanh Hoa had to borrow many players from other localities.

When Khanh Viet Corporation took over the club in August 2024, the team only had 8 young players under the age of 25 and had to race against time to replenish the squad. Before that, Khanh Hoa Club had gone through a serious crisis with heavy debt, a transfer ban by FIFA and the risk of falling to the third division.

Negative issues such as coaches embezzling money from young players have also severely affected the image of Khanh Hoa football. However, the efforts of Khanh Hoa provincial leaders and the joint efforts of many units have helped football here gradually untie the knots of difficulties, step by step resolve debts and overcome the storm.

The proposal to terminate the operation of Khatoco Khanh Hoa Club may mark a sad end for the team after recent difficult years. It also raises big questions about the future of football development in Khanh Hoa.

Source: https://thanhnien.vn/clb-khatoco-khanh-hoa-doi-mat-nguy-co-cham-dut-hoat-dong-18525072111140152.htm