President Sergio Porcedda has officially put Bologna up for sale after failing to cover unpaid wages, threatening the club with bankruptcy.
The Rossoblu risk a three-point penalty after Porcedda missed the deadline to cover unpaid wages stretching back to May and June.
A series of figures complained this week that they had not been paid either, going from players to former Coach Franco Colomba and ex-owners the Menarini family.
The Menarinis still own 20 per cent of the club's shares and they too will sell up to a new investor.
“Bologna FC 1909 and associates ASF Srl and Aktiva Spa, represented by Sergio Porcedda and Alessandro Menarini, have jointly given Intermedia Finance Spa the mandate to seek possible buyers for the entire club.”