Once a team who competed with the elite teams in Europe, Dutch side PSV Eindhoven is in serious financial trouble. From 1997 to 2008, PSV finished in Champions League places, generating a substantial amount of income and allowing them to pay world class stars. The great Ronaldo was once a PSV player, and they've developed some solid young talent over the years. Unfortunately, they missed out on Champions League places in 2008, they haven't returned, and they haven't adjusted their budget.
As a result, PSV is nearing administration. Ibrahim Afellay was sold to Barcelona for a hefty profit and the club made decent money off the sale of Balazs Dzsudzsak, but those sales weren't nearly enough to solve the club's financial problems. The city of Eindhoven has a vote next week on whether or not to provide financial assistance to the club, which they are ultimately expected to do. However, if no financial aid is provided, PSV will probably be entering administration.