Football Federation capitulate in Gaucci/ Napoli case

Serie B club Perugia owner Luciano Gaucci has completed the deal to buy Napoli and save it from bankruptcy. Earlier Gaucci was informed by the Federation that their rules prohibit the ownership of more than one club in the same league. Although Gaucci proposed schemes whereby he will rent out Napoli or even buy just parts, the Federation rejected his attempts. After considering withdrawing his efforts, Gaucci has decided to appeal the decision and expressed confidence that he would be successful. Just hours before Gaucci’s claim was filed, the Federation has backed down and approved the deal. However, the deadline given to provide evidence that the club’s financials are in order has expired and after failing to produce the required documentation, the club is facing the prospect of relegation to Serie C. The Federation  spokeswoman said the club has been given a further two deadlines to prove to the football authorities it has met a multi-million pound shortfall in its accounts. Many Italian clubs are battling record debts and heavy losses but must prove their finances in order to register to compete for the season. Napoli is reportedly €70 million in debt

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