Como have been declared bankrupt due to debt payments but are hoping to appeal the decision.
After putting an end to a 12 year-wait for a return to Serie B, Como were unable to sustain their position in the 2nd tier of Italian Football and are now struggling with an even bigger issue than trying to climb back up the mountain from Lega Pro. The Biancoblu have officially been declared bankrupt by the Public Prosecutor of the Republic of Como however, as reported by Corriere della Sera, the club itself is at odds with the decision and have stated their disappointment on the decision via statement released Saturday morning:
The club is in complete disagreement with what is proposed by the Prosecutor, having proved via documentation the ability to start and finish the campaign. The measuring stick used by the judges, if practiced at the national level, would result in not only in the failure of the majority of football clubs in Italy, but also most of the companies who daily, have faced and are facing the difficulties of a global economic crisis.
Como are faced with a €2 million debt, with about half of it to be paid to the public coffers and the remaining part to be paid privately, for which a payment plan was proposed but as per the magistrates, would not be enough to avoid the pitfall of bankruptcy. The proper documentations were presented to the judges but were not enough to convince them to overturn the ruling. Despite the problematic situation, Como are registered for the upcoming Lega Pro season which was approved by the Covisco and FIGC.
Como President Pietro Porro and the entire Administrative Council spoke out about the club’s willingness to fight the decision:
As of today, we are working on filing a complaint against the bankruptcy ruling, not yet published, that will be presented to the Milan Court of Appeal.
In the meantime, the club’s squad are currently training in the town of Sondalo while they await the final verdict to see if Como will win their appeal. It is to be noted the club have gone bankrupt before back in 2004, while under the ownership of current Genoa President, Enrico Preziosi.
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