In February 2018, during Arsene Wenger’s final season in charge, Arsenal were beaten at home by an unlikely foe. Ostersunds FK were formed on Halloween 1996, after Wenger got his appointment in north London, but defeated the Gunners 2-1 in the Europa League.
However, just 20 months later, and the club face liquidation.
Ostersunds FK in Severe Financial Trouble
Frightening Financial Figures
Ostersunds FK must raise 15 million Swedish Krona (£1.2 million) by the end of the calendar year. Additionally, 10 million kr must be paid off by 2 November for unpaid taxes, of which just six million kr has been raised already.
Former chairman Daniel Kindberg is also on trial in Sweden. He stands accused of serious financial crimes, which he denies, with a verdict in the case due on 5 November.
It was Kindberg who hired now legendary manager Graham Potter. The Englishman currently manages Brighton & Hove Albion, a post he took over the summer after a successful season with Swansea City.
Potter and several former coaches have donated money to the cause of saving Ostersunds FK. Former players who owe their careers in part to the club have done the same.
The club say that part of their difficulties lie in lost revenue. The Swedish club lost out on seven million kr in sponsorship money, 20 million kr in player sales and five million kr in matchday revenue.
Furthermore, they are under a transfer ban. FIFA took action over their deal with Amiens for Saman Ghoddos with Ostersunds FK intending to appeal.
Not Much Better on the Pitch
Current manager Ian Burchnall has spoken publicly of the situation.
“It is a critical situation. This has come quickly and out of nowhere considering where the club was a short period of time ago. The club had an unbelievable journey, but a lot of things behind the scenes have happened since then.
“We are not the only club in Sweden who have economic problems. And it is so common in football – just look at Bury and Bolton. It is really hard to compete at the top and create a sustainable model.”
Even worse is that Ostersunds FK sit just three points above the relegation zone in 13th. They have just three matches left in the league season to secure safety.
“We have probably been in the news this year more than any other team in Sweden for many different reasons, but mostly for the off-field problems, the ongoing court case, the economic problems and the FIFA transfer embargo.
“It is a really young squad. At one point we played the youngest team in the Swedish league for 20 years. Of course it affects them – either consciously or subconsciously.”
Time will only tell if Ostersunds FK will rise again. With so many obstacles to overcome, however, it is easy for fans to despair. After the highs of a European night at the Emirates, the lows of folding would be a true tragedy.
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