Historic Italian Club Brescia Folds After 114 Years as Owner Fails to Settle Debts

Historic Italian football club Brescia will be no more after 114 years, following the owner’s decision to forgo a debt of three million euros (approximately $3.4 million).

Massimo Cellino, an Italian entrepreneur, has been at the helm of the Lombardy club since 2017.

Previously, Cellino was the owner of English club Leeds United, where he gained notoriety for his revolving-door approach to management and various court-related issues.

The 68-year-old had until Friday to settle a portion of Brescia’s eight million euros in tax debts and other outstanding payments.

Due to the club’s failure to settle this amount, Brescia has lost its right to compete in the Italian league system.

The club faced a four-point deduction from the tribunal of the Italian Football Federation (FIGC) because of their financial troubles.

As a consequence of this penalty, Brescia, who concluded the Serie B season in 15th place with 43 points, has now been relegated to 18th position with 39 points, which sees them drop to the third-tier Serie C.

Brescia enjoyed 23 seasons in Italy’s top division, their most recent being the 2019-20 season, with their finest achievement being an eighth-place finish in 2000-2001.

Notable former players include Italian internationals Roberto Baggio, Alessandro Altobelli, Andrea Pirlo, and Luca Toni, alongside current Manchester City manager Pep Guardiola, who played for the club during the 2001-02 and 2003 seasons.