Ryan Gosling Posted July 25, 2008 Share Posted July 25, 2008 http://football.uk.reuters.com/european/news/L5348305.php "Valencia are exactly 439 million euros in debt," he said. "If we add to that the 350 million that has to be paid for a new stadium it rises to 739 million. "Do you know how much money Valencia has to pay before December 31 this year? Some 150 million euros... We have a patient in intensive care who is in danger of dying," the businessman concluded. :eek::eek: Link to comment Share on other sites More sharing options...
cosanostra Posted July 25, 2008 Share Posted July 25, 2008 Jeez, that is mental. Would they be the highest profile club in football history to go tits up? Link to comment Share on other sites More sharing options...
Charlie-Brown Posted July 25, 2008 Share Posted July 25, 2008 Jeez, that is mental. Would they be the highest profile club in football history to go tits up? Fiorentina were relegated to the very bottom of Italian league football because of their financial mismanagement, they eventually managed to buy back the club name & colours & fight their way back up the divisions to series A. Link to comment Share on other sites More sharing options...
Gershwin Posted July 25, 2008 Share Posted July 25, 2008 No wonder they came from nowhere to become a top side. I remember Archie McPherson expecting Rangers to run rings round them about 10 years ago on their first CL appearance. Link to comment Share on other sites More sharing options...
DarthVodka Posted July 25, 2008 Share Posted July 25, 2008 And they still won't sell Villa or Silva?! ... or at least pressured to Link to comment Share on other sites More sharing options...
LarrysRightFoot Posted July 25, 2008 Share Posted July 25, 2008 Fiorentina were relegated to the very bottom of Italian league football because of their financial mismanagement, they eventually managed to buy back the club name & colours & fight their way back up the divisions to series A. So they are officially called Fiorentina again? I was taking to someone about that not long ago because I remember they had to change their name to La Florence Viola or something? Link to comment Share on other sites More sharing options...
Charlie-Brown Posted July 25, 2008 Share Posted July 25, 2008 So they are officially called Fiorentina again? I was taking to someone about that not long ago because I remember they had to change their name to La Florence Viola or something? 2001 heralded major changes for Fiorentina, as the terrible state of the club's finances was revealed; they were unable to pay wages and had debts of around USD 50 million. The club owner, Vittorio Cecchi Gori, was able to raise some more money, but even this soon proved to be insufficient resources to sustain the club. Then, Fiorentina were relegated at the end of the 2001-02 season and went into judicially controlled administration in June 2002. This form of bankruptcy (sports companies cannot exactly fail in this way in Italy, but they can suffer a similar procedure) meant that the club was refused a place in Serie B for the 2002-03 season, and as a result, effectively ceased to exist. The club was promptly re-established in August 2002 as Florentina Viola with shoe and leather entrepreneur Diego Della Valle as new owner, and was admitted into Serie C2, the fourth tier of Italian football. The only player to remain at the club as they began their new life was Angelo Di Livio, whose commitment to the cause of resurrecting the club further endeared him to the fans. Helped by Di Livio and 30-goal striker Christian Rigan?, the club won its Serie C2 group with considerable ease at the end of the 2002–03 season, which would normally have led to a promotion to Serie C1. However, due to the bizarre Caso Catania (Catania Case) the club skipped Serie C1 and was admitted into Serie B; this was possible only because the Italian Football Federation chose to resolve the Catania situation by increasing the number of teams in Serie B from 20 to 24, and promoting Fiorentina for "sports merits". In the 2003 off-season, the club also bought back the right to use the Fiorentina name and the famous shirt design, and re-incorporated itself as ACF Fiorentina. http://en.wikipedia.org/wiki/ACF_Fiorentina Link to comment Share on other sites More sharing options...
Chester™ Posted July 25, 2008 Share Posted July 25, 2008 Unless plans for the new stadium have changed, the council were meant to be paying for it. Maybe they are leasing it back at a stupid price? Spanish teams have been in this situation for quite some time. It wasnt too long ago that Real were in debt higher than that but they had the King clear the debt because of the bank he owns. I would be quite confident someone would come in and save them. There is always some daft bugger with a huge bank balance looking to make themselves some kind of saviour. (NB That last comment may be in more hope than expectation. They are the European team that I follow and it would be a disaster if it all went wrong.) Link to comment Share on other sites More sharing options...
hate_hibs Posted July 25, 2008 Share Posted July 25, 2008 Damm thats alot of money.. Will they manage to get out all this debut? Link to comment Share on other sites More sharing options...
Martin_T Posted July 25, 2008 Share Posted July 25, 2008 No wonder they came from nowhere to become a top side. I remember Archie McPherson expecting Rangers to run rings round them about 10 years ago on their first CL appearance. Are you sure you are not confusing Valencia with Villareal? Valencia are one of the biggest clubs in Europe and have been for a hell of a lot longer than 10 years. They won 2 European trophies in the 1960's and have won 6 La Liga's including 4 prior to the early 1970's. To suggest they 'came from nowhere' is talking complete bollox. http://en.wikipedia.org/wiki/Valencia_CF Link to comment Share on other sites More sharing options...
JamboSean Posted July 25, 2008 Share Posted July 25, 2008 I have a soft spot for Valencia and it's not nice to see them in such a state. I'd imagine they'll have a mass sale and hope to build on what's left. It'll be a very long time before they make it back to what they once were though. Link to comment Share on other sites More sharing options...
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