Florence facing the future

Short of money
It was last week that the Florence-based club with the famous violet shirts finally went under, the club's president, media magnate Vittorio Cecchi Gori, unable to raise the €25m necessary to convince the Italian Football Federation (FIGC), and the country's company watchdog Covisoc, that the team were fit to compete in Serie B.

Player exodus
Despite the estimated €64m raised from the sales, over the last two years, of star players Gabriel Batistuta, Rui Costa and Francesco Toldo, Fiorentina, who had been in administration since June, still faced a reported €22m debt.

'A bad day'
On Thursday, FIGC president Franco Carraro announced: "Today is a bad day because we see one of the most traditional clubs thrown out of Serie B - it is a defeat for us all." His counterpart at the Lega Calcio (Italian Football League), Adriano Galliani, added: "The old Fiorentina no longer exists. The club must be refounded."

First victim
Fiorentina, one of the Italian game's so-called 'seven sisters', with two league titles and six domestic cups to their name; the club who had been the first Italian team to lift a European trophy when they won the UEFA Cup Winners' Cup in 1961, who competed in the UEFA Champions League as recently as 1999/00, were no more. Calcio's cash crisis had its first victim.

Fans united
However, to judge by the subsequent mobilisation of the Florentine football public, Galliani might have been better served saying, 'the king is dead long live the king'.

'Tradition and passion'
On Thursday evening, Florence city council announced the creation of a new club, Fiorentina 1926 Florentia, with mayor Leonardo Domenici as its president. "The goal is to give back to Florence a team that reflects the tradition and passion of the city," read an official statement.

Financial muscle
On Saturday, multi-millionaire Diego Della Valle was revealed as the financial muscle behind the operation; the new owner is the creator of the international shoe brand Tod's and runs a business empire reputed to be worth €250m.

Division to be decided
With part of the club's shareholding likely to be offered to fans, Della Valle's actual investment remains a question mark. Another moot point is the division in which Fiorentina 1926 Florentia will compete in 2002/03.

'Suffered enough'
Will it be the third rung of the league leader, Serie C1, or the fourth, Serie C2? Della Valle himself told the La Nazione newspaper: "I don't want to create any illusions. The fans have suffered enough and we have to create a solid base here. We still don't know which division we will be in.”

Di Gennaro ready
Already, though, Della Valle looks ready to appoint a coach in the former Italian international and AC Fiorentina midfield player, Antonio Di Gennaro. Responding to the rumours, Di Gennaro admitted: "There is nothing official, although I can't deny that I am excited. I am in Florence and I am ready to devote myself to this venture."

Cup comeback
With the likes of Amaral, Nuno Gomes and Daniele Adani already heading an exodus of expensive talent on free transfers, AC Fiorentina really are no more. But, with Fiorentina 1926 Florentia set to make their bow in an Italian Cup tie on 11 August, it appears that 76 years of footballing history may yet count for something.