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Bari About to Go Bankrupt

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After being knocked out in the Serie B play-offs by Cittadella, Bari reportedly now face bankruptcy if they can’t raise €5m in 10 days.

The Galletti were docked two points for failing to pay their players properly, which saw them fall behind Citta in the final table.

As a result, their home play-off game against Cittadella was reversed, and after going down to nine men they drew 2-2 after extra-time.

As they had finished lower in the regular table, that meant Bari were eliminated from the play-offs.

Now La Repubblica is reporting that the club’s financial issues woes are only deepening, with €5m needed within 10 days to avoid bankruptcy.

Kreare Impresa, the majority shareholder, will therefore have to try to find the necessary liquidity, with a shareholders’ meeting planned.

If they fail, Bari will be declared bankrupt and a bankruptcy commissioner will be appointed to try and get back as much money for creditors as possible.

The Galletti boast a number of familiar names, including Franco Brienza, Libor Kozak and former Celtic midfielder Liam Henderson.

The 'elevator' club is on the brink of Bankruptcy. Never a fan of Bari, but no way am I a fan of teams going under. 

Hope they raise the needed funds in the amount of time provided and learn their lessons. 

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I never really liked Bari either... but this is always sad to hear about any club.

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I'm sure the Italian clubs just pull names out of a hat to see who's going bankrupt each year. 

"Sorry Bari mate, it's your turn this year".

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33 minutes ago, Smiley Culture said:

I'm sure the Italian clubs just pull names out of a hat to see who's going bankrupt each year. 

"Sorry Bari mate, it's your turn this year".

Or if you just realize that the economy in Italy is crap at the moment, and the stadium structure in the country is even worse, you'd realize that it's more than that. 

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3 minutes ago, Cannabis said:

Not nice to see them go under but they've got a proper shit badge so probably deserve it.

The old was one crap, but they did recently change their crest. It's not as bad

F.C._Bari_1908_new_logo.png

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3 minutes ago, Eco said:

Or if you just realize that the economy in Italy is crap at the moment, and the stadium structure in the country is even worse, you'd realize that it's more than that. 

A quick Google search says there has been 20+ bankruptcies by Italian clubs in the past five-six years. Whilst I accept that the economy in Italy may be bad, Italian Football Clubs seem to go bust at the drop of a hat and resurface time and time again (Venezia four times). As bad as the economy is, it seems, especially from the outside looking in, that clubs in Italy don't bother living within their means, knowing they'll be fine.

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3 minutes ago, Smiley Culture said:

A quick Google search says there has been 20+ bankruptcies by Italian clubs in the past five-six years. Whilst I accept that the economy in Italy may be bad, Italian Football Clubs seem to go bust at the drop of a hat and resurface time and time again (Venezia four times). As bad as the economy is, it seems, especially from the outside looking in, that clubs in Italy don't bother living within their means, knowing they'll be fine.

 

1 minute ago, Cannabis said:

There does seem to be a ''phoenix'' culture in Italy where a club lobs a load of money at a project and if it fails just rebrands and starts again.

The phoenix is a good visual image, and yes, the economy is still struggling, but the country, as well as the teams, suffer from the same issues they have for years...except one team that is...Juventus. 

With the government pleading that they have no money for upgrades, yet they own all the stadiums (again, outside of one), it leads to these stadiums being worn down, old, and desperately in need of upgrades. 

I love the San Siro and have had wonderful memories there, but the best thing for Inter, and other teams, is to build their own stadiums, and self-manage. That would mean more revenue and more control. 

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