The historic name and brand will now be auctioned off as debts are projected to exceed 10 million euros.
SPAL, the football club based in Ferrara, has officially been declared bankrupt. After failing to register for the upcoming Serie C championship in early June, despite numerous efforts to find viable solutions for its sporting and corporate future, the club has vanished from the Italian football landscape. Consequently, its historic brand and official name are now set to be auctioned off. SPAL`s final match was a Lega Pro playout nearly three months ago against Milan`s U23 team, a game that ultimately resulted in the young Rossoneri squad`s relegation to Serie D.
What Lies Ahead?
Following this morning`s hearing, Judge Anna Ghedini ruled for the judicial liquidation of SPAL Srl, a company owned by Joe Tacopina and Marcello Follano. In line with standard procedures, a bankruptcy trustee has been appointed to oversee the substantial debts, which are anticipated to exceed ten million euros, owed to players, suppliers, and staff. A newly formed entity, `Ars et Labor`, has been established and has registered to compete in the Eccellenza league. However, for the time being, this new club is prohibited from using SPAL`s former brand or official name.
