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Servette has been declared bankrupt

Switzerland - 11 February, 2005
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The Super League club, which recently reported a €7.2m debt, has been declared bankrupt by the Swiss court after failing to provide guarantees it could reach a deal with its creditors. The club has suffered serious financial difficulties since major shareholder French broadcaster Canal sold its 43.2% stake in October 2003. The club (19 champion titles; last won in 99) is the country's third top club side to collapse in the last three years, after FC Lugano and Lausanne Sports went out of business in 2002.
Source: euFootball.BIZ © Copyright 2006 - All rights reserved.

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