Serie B side Livorno risk bankruptcy, as President Aldo Spinelli admits the takeover has collapsed because Majd Yousif was allegedly arrested.
The Dutch impresario was on the verge of completing the takeover when his offices in the Netherlands were raided.
According to De Telegraaf, Yousif was arrested as part of a probe into the sale of luxury vehicles, which could’ve been a front for drug trafficking.
“I am truly shocked and after three months of work, I fear the whole thing is scrapped,” current President Spinelli told Sky Sport Italia.
“We are waiting for more detailed news tomorrow, but this will certainly interrupt the negotiations. We just wasted three months that we could’ve spent finding a buyer.”
Livorno are in deep financial trouble and Spinelli – formerly President of Genoa and Como – warns he won’t be their saviour this time.
“In all honesty, I say no, we cannot continue.”
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