CINS: FC Red Star’s Multi-Million Debt to Agrobanka Bank To Be Reduced Again | Beta Briefing

CINS: FC Red Star’s Multi-Million Debt to Agrobanka Bank To Be Reduced Again

Source: Beta
Archive / News | 21.01.20 | access_time 13:22

Rajko Mitic stadium (Betaphoto/Branislav Bozic)

FC Red Star’s multi-million debt to Agrobanka Bank, would be reduced again, the Center for Investigative Journalism of Serbia (CINS) reported on its portal on Jan. 21, adding that an agreement had already been undergoing procedure, but that neither of the parties wished to provide more information about the deal.

According to the portal (, Deposit Insurance Agency official Milos Jankovic, confirmed last December that the agreement had been undergoing procedure, but since then, he, other Agency officials and FC Red Star had all been declining to comment on the deal.

The portal recalled that FC Red Star’s debt to Agrobanka Bank amounted to some EUR17 million. Last summer, the football club announced that its debt had been reduced to EUR6.8 million after interest deduction.

“CINS journalist have discovered that a new debt write-off has been approved to FC Red Star. This information was confirmed by Jankovic from the Deposit Insurance Agency, which acts as bankruptcy/liquidation administrator in banks. Jankovic told CINS that an agreement had not been signed yet, but had been ‘processed.’ He asked CINC’s journalists to call him for more information the next day, but since then he has been avoiding our journalists,” according to CINS.

Rako Bozovic, who was in charge of Agrobanka Bank’s bankruptcy process when the previous debt write-off to FC Red Star was approved, has told CINS that he has no knowledge about the new deal as he has been dismissed from the post with no explanation and succeeded by Milos Jankovic.

CINS added that FC Red Star officials had also declined to comment on the deal.

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