European Football - Siena on verge of bankruptcy

Serie B side Siena are on the verge of bankruptcy, as they are unlikely to pay outstanding wages by tomorrow’s deadline.

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Football - generic (Reuters)

“Will we be able to pay the wages by the end of today? It looks pretty difficult for that to happen,” President Massimo Mezzaroma told Sky Sport Italia.

“We are continuing to negotiate and hope to resolve the matter in time.”

Siena were plunged into financial chaos after their main sponsors, the Monte Paschi Banca di Siena, was caught up in a mismanagement and corruption scandal.

The Tuscans were also relegated into Serie B, which prompted a huge drop in their income.

All Serie A and B clubs must pass financial stability tests before being allowed to register for the new season.

If Siena fail, they will be declared bankrupt, thrown out of Serie B and a different club will have to take their place.

Read the original article on Football Italia - The ultimate website for English-speaking fans of Italian football

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