Italy is “shocked”, two well-known clubs declare bankruptcy
Italian teams Brescia and SPAL have declared bankruptcy and will not participate in the next Serie C season.
Brescia, after 114 years of history, failed to repay part of its debts, which amounted to around 9 million euros. It was forced to liquidate, after losing the right to compete in professional championships.
SPAL is also in the same situation, declaring bankruptcy after investors withdrew. The club had received a -4 point penalty for financial irregularities, which contributed to its relegation from Serie B.
In both cases, the clubs’ financial situations were unstable and no solutions were found within the legal deadlines.
Fans have reacted strongly to the management, particularly Brescia president Massimo Cellino. These developments represent a difficult moment for two clubs with long histories in Italian football.
