Italy: Ascoli (Lega Pro Prima Divisione) declared bankrupt after 115 years of existence

The Court of Justice of Ascoli (Marches, ITA) has declared Ascoli Calcio 1898 (Prima Divisione Lega Pro, the Italian third division) bankrupt, on the 17/12/2013.

"Ascoli's bankruptcy was inevitable," judge Raffaele Agostini told Italian media inside the courtroom. "I am a judge but also a great fan of Ascoli but unfortunately, we have to respect the law. There was no possibility of postponing the ruling because there are demands that have to be taken care of immediately. There are sporting demands as well as judiciary ones," said Judge Raffaele Agostini.

A 35% stake in Sopren Ltd, the company led by Roberto Benigni, the club president, was seized at the request of the Adriatic Bank, the principal creditor of the club. They fear that the club will not be able to repay the €3 million loan granted in 2009 and 2010, and the cause of Ascoli's bankruptcy proceedings.

Ascoli, founded 115 years ago, spent 16 seasons in Serie A. Their best finish was 4^th (1979-1980).

• Ascoli's team have not been excluded from the Lega Pro Prima Divisione championship.
• "We want to meet the players and beg…