On July 21st, Mr. Nguyen Phuong Tuan, Director of Khatoco Khanh Hoa Club, stated that Khanh Viet Corporation had sent a document to the Khanh Hoa Provincial People's Committee requesting the termination of Khatoco Khanh Hoa Club's operations. The document was sent based on the State Audit Office's conclusions regarding issues requiring action during the club's operation.
According to the State Audit Office's conclusions, the establishment of a subsidiary accounting unit of Khanh Hoa Football Club by Khanh Viet Corporation "did not comply with the direction and guidance of the Prime Minister " on restructuring state-owned enterprises in the 2021-2025 period. The audit also pointed out that football activities are outside the main business line and inconsistent with legal regulations on enterprises. In particular, since its establishment in September 2024, the club has incurred significant losses, with a loss of over 4.2 billion VND in the fourth quarter of 2024 and over 3.5 billion VND in the first quarter of 2025, "significantly impacting the overall efficiency of the enterprise's production and business operations."
Khatoco Khanh Hoa Club will participate in the 2024-2025 First Division league with many young players.
PHOTO: BA DUY
According to the Director of Khatoco Khanh Hoa Club, the State Audit Office's conclusions have pointed out issues that need to be addressed, therefore Khanh Viet Corporation must submit a written request to resolve them according to the audit's recommendations. This is a mandatory step to comply with regulations. The final decision will rest with the People's Committee of Khanh Hoa province.
Reportedly, Khatoco Khanh Hoa Football Club terminated the employment contracts of all team members in July. Currently, only three officials from Khanh Viet Corporation, responsible for the football aspect, continue working to handle tasks during the transition period. Regarding future plans, if the company continues to take over, it will begin renewing employment contracts with team members from August 1st and proceed with recruiting additional personnel to strengthen the squad.
Despite facing the risk of discontinuing operations, Khatoco Khanh Hoa FC has just completed the 2024-2025 First Division season with a remarkable achievement. The team finished 5th out of 11 teams with 21 points after 20 matches, including 5 wins, 6 draws, and 9 losses. This achievement is particularly significant considering the difficulties the club faced from the beginning of the season.
Due to ineffective youth training, Khánh Hòa had to borrow many players from other localities last season.
PHOTO: BA DUY
When Khanh Viet Corporation took over the club in August 2024, the team only had 8 young players under 25 years old and had to race against time to recruit more players. Prior to that, Khanh Hoa Club had gone through a serious crisis with mounting debt, a FIFA transfer ban, and the risk of relegation to the third division.
Negative issues such as coaches embezzling money from young players have severely damaged the image of football in Khanh Hoa. However, the efforts of the Khanh Hoa provincial leadership, along with the concerted efforts of many organizations, have helped football in the region gradually overcome these difficulties, resolve debts, and weather the storm.
The proposed closure of Khatoco Khanh Hoa Football Club could mark a sad end for the team after years of hardship. It also raises serious 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
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