The Viola have lost their battle against bankruptcy as £13m could not be found in time, but the club was saved from the amateur League in an act of clemency.
Fiorentina were set to play the 2002-03 season in Serie B after relegation last year, but were unable to balance the books in time for today’s deadline.
Patron Vittorio Cecchi Gori had pledged to provide the £13m needed to save the historic side, but a fax from a Colombian bank promising the cash proved to be false.
The rules would usually see Fiorentina shunted down to the Eccellenza – amateur – League, but due to the former Scudetto winners’ status in Italian football they may be allowed a spot in Serie C1.
Effectively, Fiorentina have been declared bankrupt, but the League has “accepted a request to maintain the name ‘Fiorentina’ and start again in another professional division,” explained representative Enrico Giani as he left today’s meeting.
“The issue is whether it is C1 or C2. We must create a new club with a capital of £2m within the next few hours. The businessmen of Florence must come forward now.”
“I was the only one fighting for Fiorentina,” assured Roma President Franco Sensi as he left today’s League meeting. “I am 80% sure the Viola will start again from Serie C1.”
Ternana, the last side to be relegated from Serie B last season, will be promoted back into the second division to take Fiorentina’s place.
“We will try to do something for Fiorentina,” explained League President Adriano Galliani, “because this club does represent an important part of Italian football culture. But we must stay within the rules.”
This is the latest, and perhaps final, chapter in a troubled year for the Florence side.
Last summer debts of over £100m were discovered and the season was spent selling off stars while other players sued the club for unpaid wages.
The club was relegated into Serie B as the off-field problems took their toll, but the situation deteriorated further in the last two months.
Patron Vittorio Cecchi Gori failed to fully solve their financial problems and even the arrival of a court appointed administrator did not save the side.
“At the moment I have no reason to be optimistic,” revealed administrator Enrico Fazzini late last night, “and no reason to think the £13m will ever arrive."
"We asked the banks to stay open until 6.30pm on Wednesday to maintain some hope, but even then there were no concrete developments.”
“I fear it truly is over now,” added the Florence-born bankruptcy official. Cecchi Gori’s inability to pay had previously forced an open auction on his shares in the club, but no bids were made.
“We will do everything possible to keep Fiorentina in the world of professional football,” commented Florence council member Achille Serra in a telegram sent to the Italian FA.
“The tradition and history of the Viola side must force everyone to make an effort to ensure this city and its fans a future in football.”
Meanwhile, Ternana are overjoyed at their return to Serie B just months after their relegation.
“We already have the flags, wine and ham ready,” smiled President Luigi Agarini. “We were confident of this development and want to celebrate it in the right way.”
football italia
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Fiorentina were set to play the 2002-03 season in Serie B after relegation last year, but were unable to balance the books in time for today’s deadline.
Patron Vittorio Cecchi Gori had pledged to provide the £13m needed to save the historic side, but a fax from a Colombian bank promising the cash proved to be false.
The rules would usually see Fiorentina shunted down to the Eccellenza – amateur – League, but due to the former Scudetto winners’ status in Italian football they may be allowed a spot in Serie C1.
Effectively, Fiorentina have been declared bankrupt, but the League has “accepted a request to maintain the name ‘Fiorentina’ and start again in another professional division,” explained representative Enrico Giani as he left today’s meeting.
“The issue is whether it is C1 or C2. We must create a new club with a capital of £2m within the next few hours. The businessmen of Florence must come forward now.”
“I was the only one fighting for Fiorentina,” assured Roma President Franco Sensi as he left today’s League meeting. “I am 80% sure the Viola will start again from Serie C1.”
Ternana, the last side to be relegated from Serie B last season, will be promoted back into the second division to take Fiorentina’s place.
“We will try to do something for Fiorentina,” explained League President Adriano Galliani, “because this club does represent an important part of Italian football culture. But we must stay within the rules.”
This is the latest, and perhaps final, chapter in a troubled year for the Florence side.
Last summer debts of over £100m were discovered and the season was spent selling off stars while other players sued the club for unpaid wages.
The club was relegated into Serie B as the off-field problems took their toll, but the situation deteriorated further in the last two months.
Patron Vittorio Cecchi Gori failed to fully solve their financial problems and even the arrival of a court appointed administrator did not save the side.
“At the moment I have no reason to be optimistic,” revealed administrator Enrico Fazzini late last night, “and no reason to think the £13m will ever arrive."
"We asked the banks to stay open until 6.30pm on Wednesday to maintain some hope, but even then there were no concrete developments.”
“I fear it truly is over now,” added the Florence-born bankruptcy official. Cecchi Gori’s inability to pay had previously forced an open auction on his shares in the club, but no bids were made.
“We will do everything possible to keep Fiorentina in the world of professional football,” commented Florence council member Achille Serra in a telegram sent to the Italian FA.
“The tradition and history of the Viola side must force everyone to make an effort to ensure this city and its fans a future in football.”
Meanwhile, Ternana are overjoyed at their return to Serie B just months after their relegation.
“We already have the flags, wine and ham ready,” smiled President Luigi Agarini. “We were confident of this development and want to celebrate it in the right way.”
football italia
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