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Negotiations on re-financing Philips Stadium (

27 sep 2006 - Source:

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When asked to comment on newspaper reports suggesting that PSV have completed negotiations on re-financing the Philips Stadium, PSV Chairman Westerhof responded that those negotiations are still going on. He added that he will fly to New York tomorrow. "There is no deal yet", announced Rob Westerhof, who will step down as Chairman shortly, in Bordeaux. " It is true we are negotiating with American business partners and will fly to New York tomorrow to continue the negotiations. But it would be far too premature to announce we have completed a deal. We will clarify this matter later this week."The PSV board implied that they are in touch with a big American investor. Re-financing the Philips Stadium in order to reduce the annual interest charges is at stake. For many months club officials have made efforts to reach a permanent and satisfactory solution.