Servette Geneva's new owners
were given one month on Tuesday to come up with a rescue package
for the bankrupt club.
A civil court in the canton of Geneva said in a statement
that it had accepted the club's request to adjourn a bankruptcy
hearing until April 19.
"During the agreed period, the club's administration must
produce a concrete and detailed stabilisation plan," said the
"It must also demonstrate the feasibility of the proposed
measures and their effect on the club's financial situation."
Seventeen-times Swiss champions Servette, fifth in the Swiss
Super League, filed for bankruptcy on March 1 under their
previous owner, Iranian businessman Majid Pishyar, who has since
sold the club to Canadian businessman Hugh Quennec.
Quennec said in an interview with Swiss television that the
club needed to raise between five million and 10
million Swiss francs to be able to complete the current season.
He said Servette, who only returned to the top flight of
Swiss football this season after previously being declared
bankrupt in 2005 and demoted to the third tier, had already
raised 650,000 francs.
"The situation is not going to get worse, it's only going to
get better," he said. "I am very optimistic about this
initiative to save the club."
Servette's problems have completed a chaotic season for
Neuchatel Xamax were expelled in January over what the Swiss
Football League said were a number of irregularities including
the suspicion that Russian-born owner Bulat Chagaev had forged a
letter from a bank which he used as proof of his financial
Chagaev, subsequently arrested and in custody on charges of
financial mismanagement, had only taken over the club eight
Meanwhile, Sion were deducted 36 points for fielding players
the club had signed while subject to a transfer ban.
The club then took their case to a civil court, defying FIFA
and UEFA statutes, leading Switzerland to be threatened with an
The one bright spot had been FC Basel's progress in the
Champions League. But that came to an abrupt end last week with
a 7-0 defeat away to Bayern Munich.
Central defender fit enough to play in the Champions League final at Wembley
Bayern Munich unfazed by the need to be more clinical in attack against Borussia Dortmund
Ruud Gullit believes Bayern Munich are in for a shock when they take on Borussia Dortmund
Napoli president denies reports that he has named Rafael Benitez as club's new manager
Ten years on, the legends speak to FFT
Your questions answered by an A to Z of legends
75% of all TV is Bale
On the road to ruin
Nike CR7 IX for you
FourFourTwo is brought to you by Haymarket Consumer Media & FourFourTwo is part of Haymarket Sport
| International Licensing | © Haymarket Media Group 2010