Monday, 14 July 2008

Messina on the brink of bankruptcy

Messina have decided not to appeal against their bankruptcy and as a result it looks likely they will now drop out of Serie B due to their off-the-pitch problems.

Each club in Italy must prove its financial stability before it is allowed to enter the new season and failure will see them demoted.

The Sicilians had been warned of their position on Friday and the Franza family who own the club took time to look at the books.

However, this evening it is reported they have decided not to appeal against the decision, as they cannot provide the certification of paid wages and other debts.

It would have taken just under £3m to save Messina's place in the Second Division, but they were beyond the current owners.

The Franza family put the club up for sale, but no new buyers have come forward to salvage the side.

Unless a new consortium presents a request to buy the club's name through the Lodo Petrucci law by the end of this month, Messina Calcio will not be allowed to begin again from even the Lega Pro 2 (fourth tier) and would be wiped off the calcio map.

This means Messina's position in Serie B is opened up for Avellino, who were relegated from Serie B to Lega Pro 1 at the end of last season.

Avellino are also struggling to prove their financial solidity, but this evening lodged an appeal and announced that negotiations were in place with new investors.

The Covisoc committee will decide the future of Messina and Avellino in Serie B on Friday.

Source: C4 Football Italia

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