Six days ago has been known that Larvik HK is again in huge economic trouble and they need three million in Norwegian krones to be able to save the club and to not be forced to declare insolvency/liquidation. If they cannot solve this crisis than the Norwegian Handball Federation will not give license for the club for the next season because they do not meet the minimum economic requirements to play in the Eliteserien and could be relegated to a lower division. The board means that this is not an option, if they could not get the license so they will close the whole business.
The current situation is nearly unreal if we think about all those things happened only three years back when in 2015 Larvik KH was also near bankruptcy because of bad economic management for many years (when the club had actual success and they had high marketing value). The club has been saved then by local sponsors, national sponsors and got a bigger amount of money from a businessman whose identity was never really public.
Last season almost every of their bigger profiles left the club, mostly because they could not manage to keep them, to pay them competitive salaries compared with the rest of European handball and especially Eastern Europe. Gro and Anja Hammerseng Edin, Karoline Dyhre Breivang retired, Marit Malm Frafjord and Amanda Kurtovic left to CSM Bucuresti, Nora Mørk left the club one season earlier to join Gyor and Sandra Toft returned to Denmark. New players have been brought in Larvik and the beginning of the season did not go well, lost several matches, and they could not manage to qualify from the Champions League group stage this season. At the end of this season Thea Mørk and Kristine Breistøl will move to Denmark, Tamires Morena transferd to Hungary and Tor Odvar Moen will also join Hungarian Siofok as the new head coach.
Now they are in an awkward situation to not be able to pay any salaries for April and if they will not get in 3 million NOK than they can close the business forever.
Gro Hammerseng Edin is the member of the board in Larvik HK and her explanation for the current problems is that the club lost many national team players, therefore the marketing value has fallen, was lower income from ticket-sale, fan-shop articles sale and fewer sponsors were willing to support the club. Because of the less known player-group, the yearly handball-school organized by the club is less popular also.
The board made a so-called “Larvik package” which costs 10.000 NOK and those who buy this “Larvikpakka” will get a permanent seat at Boligmappa Arena Larvik for all home matches, they will be invited to the Larvik Handball Club’s annual kick off, four meeting with sponsors per season and can attend a coaching – lecture with Anja and Gro Hammerseng-Edin . The plan was to sell 300 of these packages, which means to get in the 3 million.
Last Friday the club organized a voluntary work where all the players and coaches participated, called people on the telephone and managed to sell 220 packages, which means 2,2 million. They also opened a bank account where people can give small amounts. Before the 9th of May, they had to collect the full amount, so there is still a hope.
Will they manage to float over the water again????