19 February – Serie A clubs have formally opposed a bill on popular shareholding in sports clubs, despite the reform having already cleared the Italian Chamber of Deputies.
Meeting earlier this week, the Lega Calcio Serie A assembly voted against the legislation. The bill is awaiting examination in the country’s Senate, with Serie A writing to the President of the Senate and the Senate’s Seventh Committee to outline their concerns
According to reports from Italian news agency Radiocor, the league believes the draft law presents “serious conflicts” with the subjective rights and legitimate interests of clubs and their shareholders.
The league warned that, if enacted in its current form, the measures could trigger “obvious negative effects” for both the football industry and the wider economy linked to it.
Amongst its concerns, the league questioned the text’s lack of clarity regarding its application to listed companies, with several Serie A clubs operating within complex corporate structures.
Also of concern was the right of popular shareholding bodies in the event of a club’s bankruptcy. Under the proposed framework, the fan bodies would be entitled to acquire the club’s sporting title – a provision the league believes could interfere with already-established insolvency procedures.
The league also pointed out the absence of ‘robust’ safeguards to prevent organised crime from infiltrating stadium environments or exerting influence over corporate governance structures via the popular shareholding bodies.
The matter will now move forward in the Senate.
Contact the writer of this story, Harry Ewing, at [email protected]