Israel: Beitar Jerusalem football team faces bankruptcy crisis
“I’ve seen a lot of bad times for Beitar, unfortunately, over the years, but nothing has been like this”
Israeli football team Beitar Jerusalem is facing an economic crisis as it unilaterally releases players, unsure where to find the funds to continue paying them.
Effi Gorodetzer, co-presenter of the Hapod Al-Hakadur Sports podcast and lifelong sports fan, sat down with i24NEWS to discuss the team and its challenges.
“For now, I think Moshe Hogeg has finally understood that he’s not going to ask for money, just someone who can fill in the holes that we have now,” commented Gorodetzer.
Hogeg, the owner of Beitar Jerusalem, was arrested late last year for alleged sex crimes and cryptocurrency fraud.
“We’re talking about $25 million to $30 million in debt that the team owes…but also, and that’s the biggest problem, all of Hogeg’s accounts are confiscated by the police. So he can’t use his money. money to help the team financially.”
According to Gorodetzer, salaries have been paid so far thanks to the donation of three and a half million dollars. However, this can only last for several months.
“We’re going to go through this every month, trying to figure out how we’re going to get the stability to finish the season.”
When asked if players could strike, Gorodetzer noted it was a possibility, though he thought it was unlikely.
“It’s really difficult,” he said, coming from a fan’s perspective. “I’ve seen a lot of bad times for Beitar, unfortunately, over the years, but nothing has been like this, where you don’t know what the future holds.”