Final curtain for Servette
Wednesday, February 16, 2005
Article summary
A late attempt by Servette FC to escape bankruptcy failed after investors from Syria withdrew their interest.
Article body
A late attempt to stave off bankruptcy at Servette FC has failed after investors from Syria withdrew their interest in the club.
Late attempt
The club were declared bankrupt two weeks ago with debts totalling €6.42m, but owner Marc Roger continued to battle against the decision, and lodged an appeal on Tuesday along with a bank guarantee claiming that Syrian investors would be able to cover the club's deficits.
Deal collapses
However, having obtained guarantees from the club's players that they would waive any claims for unpaid wages, the money failed to materialise and the court refused to reverse its decision. The Swiss Football League season will now resume at the weekend with nine teams, rather than the usual ten.
Points valid
Servette, who have never been relegated in their 115-year history, will live on in one form as their Under-21 team still have a licence to play in the lower leagues in Switzerland and next season will play in the First League, the top amateur division. Meanwhile, with all nine remaining top-flight teams having played Servette once this season, points from all matches against Servette this season are likely to remain valid.
