Serie C side Vicenza have been declared bankrupt by a tribunal this afternoon, bringing 115 years of history to an end.
The Lanerossi’s players haven’t been paid since September, and have taken strike action in recent weeks.
Today a tribunal formally declared the club bankrupt, so control of the club will pass to a bankruptcy trustee who will try to reclaim as much money as possible for creditors.
Vicenza will be allowed to continue in Serie C until the end of the season, and have until the start of next season for interested parties to form a new club.
Control of the name and history of the club will pass to the mayor of the city, who will have to find new owners to form a phoenix club, who can enter Serie D, the top amateur league.
Any new club must register to play in the amateur leagues within two months of the start of the 2018-19 season.
Vicenza are the second club to go bankrupt in just over two months, as fellow Serie C side Modena went to the wall in November.
The Berici were founded in March 1902, and won the Coppa Italia in 1997, before reaching the Cup Winners’ Cup semi-finals.
Former players include Paolo Rossi and Roberto Baggio, while Francesco Guidolin was Coach when they won the cup.
See the latest Serie A predictions and betting tips with Eurotips.co.uk