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.
Debts force closure
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 begin the 2004/05 season in 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.
©UEFA.com 1998-2017. All rights reserved.