The owner of Geneva-based football club Servette says he has begun bankruptcy proceedings. Servette is the second team in the ten-club top division to go bust this year.
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Iranian businessman Majid Pishyar said in a statement on Thursday he was broken-hearted over the “complicated” decision.
He directed blame at the city’s government and business community whose “support has, unfortunately, been below my expectations”.
Pishyar, who took charge in 2008, said he would “continue to fight for Servette”.
It was unclear whether the club would complete its matches this season. It also fell into bankruptcy in 2005 and was demoted midseason.
In January, Chechen-owned Neuchâtel Xamax was declared bankrupt and dropped out of the league.
Founded in 1890, Servette won 17 Swiss league championships and seven Swiss cups. The club has taken part in the European Champions’ League seven times.
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Xamax was stripped of its licence on Wednesday and effectively kicked out of the league over allegations of financial misdeeds less than a year after being taken over by Chechen businessman Bulat Chagaev. Chagaev says he will appeal against the “repugnant” decision. At a press conference in Zurich Swiss Football League (SFL) chairman Heinrich Schifferle…
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