KV Oostende's relegation from the Jupiler League rounded off a dismal campaign for the Belgian side with the club reportedly in €6million worth of debt and fears from fans over their long-term future. De Kustboys, who reached the qualifying rounds of the Europa League in 2017, will play football in the second tier of Belgium for the first time in a decade.
The club briefly had their professional licence revoked in 2020 following financial issues under their previous ownership regime, before being bought by Pacific Media Group - a US-based investment fund that has stakes in a number of European clubs including League One side Barnsley, French club Nice and German 2.Bundesliga side Kaiserslauten.
PMG have reportedly cleared half of the debt at the Belgian club to allow KVO to play in the Belgian second tier next season, with takeover talks falling quiet. Wolves, Bournemouth and Newcastle United have been linked with a takeover at the Ostend based club in recent months.
