Two-time Italian champions and 1988/89 UEFA Cup winners SSC Napoli have been declared bankrupt, a week after being relegated from Serie B after failing to provide guarantees regarding their financial security.
A Naples court made the order, saying that the club had debts of about €62m. Napoli could now request the implementation of a law known as 'Lodo Petrucci' which allows a bankrupt club to reform and start again at a lower level. It is still unclear if they will follow this route and start next season from Serie C1.
Napoli’s heyday came in the 1980s, when inspired by Diego Maradona they won the Scudetto in 1986/87 and 1989/90, as well as the UEFA Cup, beating VfB Stuttgart 5-4 on aggregate in the final. They last competed in Serie A in 2000/01, when they were relegated by a single point.
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Just shows that a club being mis managed and over spending without looking at the long term is a danderous business. Beware Shels!!
03/08/2004, 10:28 PM
eoinh
its happened to a lot of Italian clubs recently - Fiorentina being an example.
15/09/2004, 11:22 AM
eoinh
Just read in the last week that a new Napoli were formed and have taken their place in Serie "C".
