Official: SPAL go bankrupt as phoenix club enters Italy’s fifth tier | OneFootball

SPAL have been officially declared bankrupt today as the club disappears from Italian football.

After victory a few months ago in a Serie C relegation playoff, the former Serie A side failed to register for the new season back in June and now, after a judicial hearing, the club have been declared bankrupt.

Gazzetta are reporting that despite ‘numerous attempts to find concrete solutions that could ensure the continuity of the sporting and corporate project’, no solution was found and now the club ceases to exist.

FERRARA, ITALY – JULY 26: General view of the stadium prior the Serie A match between SPAL and Torino FC at Stadio Paolo Mazza on July 26, 2020 in Ferrara, Italy. (Photo by Gabriele Maltinti/Getty Images)

What happens next for SPAL?

SPAL, or Societa Polisportiva Ars et Labor, will have to stop operating in its current state. Gazzetta report that the historic name and brand will be even placed up at auction.

Anna Ghedini, the judge in charge of the hearing, ruled for the company’s liquidation, with a bankruptcy trustee appointed to handle outstanding debts, of a reported €10 million, which is owed to players, staff and suppliers.

Meanwhile, a ‘phoenix club’ has been established, named Ars et Labor, and have registered for the ‘Eccellenza’ championship, Italy’s fifth tier and the highest level of fully-amateur football in the Italian pyramid.