Top Italian club goes bankrupt

Brescia

Historic Italian football club Brescia will cease to exist after 114 years following its owner’s decision not to honour a debt of three million euros ($3.4 million).

Italian businessman Massimo Cellino has owned the Lombardy club since 2017.

Cellino was previously the owner of English side Leeds, where he was principally known for his swing door policy of managerial ins-and-outs and his problems with the courts.

The 68-year-old had until Friday to pay part of Brescia’s eight million euros in tax arrears and other overdue taxes.

Brescia’s failure to pay the sum has resulted in the club losing the right to take part in the Italian league system.

The club were deducted four points by the tribunal of the Italian football federation (FIGC) for their financial woes. Punch