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£12m in 24 hours to save Fiorentina Sunday 30 June, 2002


The clock is ticking and Fiorentina owner Vittorio Cecchi Gori must find £12m within the next 24 hours or risk bankruptcy.

The patron, who resigned as President following an investigation into financial irregularities, has not yet paid the money he had pledged to the club.

A cheque worth £3.3m was set to be paid on May 31 as part of the funds his company FinMaVi ‘borrowed’ from the club last year, but the money has not yet been transferred.

The second instalment of that payment is due today, while a further £6m is also set to be paid into the club’s coffers as part of the promised raise in capital.

In total that leaves £12.6m that must be found within the next 24 hours. The club is already under administration and must balance the books by July 16 or fail to register for the Serie B Championship.

If that were to happen, Fiorentina would be automatically relegated to Serie D or Serie C2.

“I was told,” revealed court appointed administrator Enrico Fazzini, “that Cecchi Gori says he is convinced he can fix the situation. I cannot help but believe him and hope he really can keep these promises.”

“Obviously,” he added, “if Cecchi Gori does not act then I would be forced to call in the law.”

Even attempts to sell their top stars have failed to generate quick cash. The football financial year ends this evening and accounts must be presented to shareholders on Monday.

Directors Giuseppe Pavone and Giovanni Galli are desperately trying to make last-minute sales, but Nuno Gomes has refused a move to Galatasaray.

Enrico Chiesa and Daniele Adani are in talks with Milan, but so far no agreement has been reached.

Christian Amoroso and Marco Rossi are engaged in a similar scenario with newly promoted Como.

channel4 ;)
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