Published On: Tue, Jun 25th, 2013

Siena edging towards bankruptcy

Freshly relegated from Serie A, Siena are close to declaring bankruptcy after it was revealed that the club will not be able to pay outstanding wages by tomorrow’s cutoff date.Siena Logo

Siena’s financial situation took a turn when their main sponsor, the Banca Monte Paschi di Siena, became caught up in a corruption scandal involving Italy’s Democratic Party.

The Bianconeri have not been far from controversy recently, as last season the club starting their campaign with a six point penalty for their role in last summer’s match-fixing scandal.

Siena president Massimo Mezzaroma is feeling less than confident that the club will be able to meet the deadline considering the financial mess the Tuscans are currently in.

“Will we be able to pay the wages by the end of today? It looks pretty difficult for that to happen,” Mezzaroma said to Sky Sport Italia. “We are continuing to negotiate and hope to resolve the matter in time.”

In the event Siena fail to meet the financial terms for Serie B, they will most likely face relegation and being next season in the Lega Pro Prima Divisione, Italy’s third division.

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