Friday May 6 2011
Bari strike bankruptcy deal

Bari's council has moved to avoid the risk of bankruptcy by agreeing a deal over the €1.12m debt.

The club has been doomed to relegation from Serie A, but also ran the real risk of disappearing off the football map.

AS Bari have agreed to pay €1.12m over a five-year period to the local council. From October 31, they will hand over 60 instalments of €20,000 per month.

In return, the council will forego the interest accrued on the outstanding debt.

It is a big boost for Bari, as the council had already begun legal proceedings this month.

Bari President Vincenzo Matarrese has said numerous times that he is looking for new investors, especially after their relegation to Serie B.

The Galletti will face Palermo in the Saturday 17.00 UK time kick-off.