Deinze’s Desperate Plight: Club Teeters on Brink of Collapse

The Belgian club KMSK Deinze finds itself in dire straits after its main Singaporean investor, ACAFP, abruptly decided to cut off funding.

Once a team brimming with ambition, Deinze now faces the very real threat of bankruptcy, with just weeks to find a new investor or risk a points deduction and further penalties. The news, which has shocked players, staff, and supporters alike, comes after weeks of uncertainty and broken promises, leaving the club and its future hanging by a thread. One of those players is promising Everton talent Reece Welch, who now also faces an uncertain future.

In a candid moment during the “90 Minutes” podcast, Deinze player Tuur Dierckx summed up the bleak reality: “I think it’s the end of the story. If the club can’t find another investor quickly, it’s over.”

The crisis unfolded earlier this week when the club, which competes in Belgium’s second division, announced that ACAFP, a Singaporean investment company, would be pulling out of the project. Although this statement was hastily removed from the club’s website, the damage was done. What had once seemed like a prosperous partnership with ambitious goals of promotion to the Jupiler Pro League has now collapsed into chaos.

The club has been given an ultimatum: it must secure a new buyer and present them to the Belgian Licensing Commission by October 20, or face immediate consequences, including a points deduction. The transfer ban already imposed on the club adds further pressure to an already strained situation.

Dierckx, one of the key figures at Deinze, noted the shock felt across the organisation: “It really is a very unfortunate situation, for various reasons. We didn’t see this coming either.”

The effects of the investor withdrawal have been felt across all levels of the club. The once vibrant operations at the Dakota Arena, Deinze’s home ground, have taken a nosedive. “There is still breakfast, but we don’t get lunch anymore. And there is also talk that several players will have to hand in their cars again,” Dierckx lamented. “We as players have always been paid, but that will no longer be the case.”

The human toll is becoming increasingly apparent. “You hear stories during your career from players who have experienced it, but when you feel it up close, you realize how drastic it is for everyone,” Dierckx continued. Several players and staff members have recently become fathers, and now face the prospect of not being able to meet their financial obligations. “That is misery,” he said somberly.

The youth department has also suffered immensely. Many youth coaches received only a third of their salary back in June, and since then, have seen no further payments. Parent groups have even stepped in, advancing money from their own pockets to pay for their children’s coaches. While this has prevented a complete collapse, many coaches have left for other clubs, such as Kortrijk and Zulte Waregem, and the number of training sessions for young players has been drastically reduced.

Suppliers have also refused to continue working with Deinze due to unpaid invoices, with rumours that the club hasn’t even been able to pay its brewer. This bar talk, once dismissed, now appears to have been an early indication of the dire situation.

The burning question for Deinze’s fans and stakeholders remains: how did it come to this? Just weeks ago, the Singaporean investors, alongside club members, were optimistic about promotion to Belgium’s top division, the Jupiler Pro League. It was the culmination of a three-year plan, one that began when the Singaporeans first became involved with the club. Despite initial scepticism, the partnership had yielded two successful seasons, and the local community had gradually warmed to their financial backers.

However, this bubble of optimism burst spectacularly this week. The club, despite repeated inquiries, never received a proper explanation from ACAFP, who have been noticeably absent since the crisis unfolded. “The people of the Deinze club themselves have always tried to answer our questions honestly, but they too have been lied to for a long time,” Dierckx revealed. “It mainly comes from above, from that ACA Group – who nevertheless promised amounts to the club several times.”

Sources within Deinze suggest that ACAFP had been struggling financially for some time, following a market crash last year. While this had been an open secret within the company, it was never communicated to the club, leaving Deinze in the dark. The Singaporean investors had even made large commitments this season, including hiring high-profile coach Hernán Losada and strengthening the squad, leading many to believe the project was still on track.

But in the end, the promises of a €6 million operating budget for the season proved meaningless. “I find it very striking that it can still happen after the umpteenth time,” Dierckx remarked. “From outside they decide to pump money into a club somewhere, but from one day to the next you can simply decide to withdraw – without consequences above all.”

As Deinze prepares for its next match against Patro Eisden, the team continues to focus on football despite the storm brewing around them. Three possible scenarios now lie ahead for the club. The first and most hopeful option is finding a new investor willing to buy the club, which is being sold for a symbolic euro. However, any new owner would need to address the club’s mounting debt, reportedly already at €2 million, and inject further funds to ensure the season can be completed.

Failing that, Deinze could face bankruptcy if one of its creditors files, at which point a trustee would be appointed, and players could be released from their contracts. The third, and perhaps most painful, option is that the club avoids bankruptcy but is unable to pay its players, forcing them to fight for their freedom through legal means – a process that could drag on for months.

For now, Deinze waits anxiously to see whether salvation will come before the October 20 deadline, or whether this once-promising project will come to an end.