The Lega Serie A has voted in favour of an early allocation of parachute payments that could help save Sampdoria. The Blucerchiati are in dire financial straits and could be on the verge of bankruptcy, following their relegation to Serie B earlier this month. The club reportedly have debts of close to €150 million and need at least €35-50 million to stay afloat, while owner Massimo Ferrero has refused to accept bids to sell the side.
La Repubblica report that during the assembly of Serie A sides held yesterday, teams decided to vote in favor of the request of the already relegated teams, Cremonese and Sampdoria, who wanted a 40% advance on parachute payments.
Cremonese, newly promoted a year ago, will collect just €4 million of the €10 million advance they are due after only one year in Serie A. Samp, on the other hand, will benefit immediately from €10 million, since its share of the parachute is the highest possible, a €25 million share. As per the request, the money will be available as early as tomorrow, just in time to honor the clubs salary deadline.
One issue remains outstanding, however@ Article 18 of the Lega Serie A Statute specifies, the parachute is accrued by all clubs that are relegated “on condition that the same clubs are admitted to and actually participate in the Serie B championship of the season following the one in which relegation from Serie A accrued.”
In essence, before you can receive the parachute money, you have to be registered for the new Serie B championship. In Samp’s case, the possibility is far from a foregone conclusion, but is viewed as a big step toward helping save the club. The blucerchiati’s administrator, lawyer Romei, reassured the assembly, saying “I cannot tell you anything out of superstition, but we have found a solution.”
The €10 million will be spent to meet the expenses necessary to close the season. But then a new shareholder will be needed to ensure business continuity.For the moment, there seem to be two interested parties : Andrea Radrizzani, owner of Leeds, and Alessandro Barnaba, who controls Lille.
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