Brescia Calcio declared bankrupt after 114 years as court orders liquidation

The Court of Brescia has declared the judicial liquidation of Brescia Calcio, bringing an end to 114 years of football history for the club that has oscillated between Italy's Serie A and Serie B. The decision was handed down on the day of president Massimo Cellino's 70th birthday.

The ruling comes after the club was excluded from professional leagues for failing to meet financial deadlines and the subsequent opening of insolvency proceedings. Brescia Calcio carried a debt burden of approximately €20 million that proved insurmountable despite a series of attempted remedies.

Among the measures that failed to stave off bankruptcy was the reactivation of the club's registration as of June 30, and the anticipated sale of Sandro Tonali, which would have brought in around €6 million in player development rights. Two weeks ago the club had even enrolled in the provincial Under 16 championship in a bid to demonstrate sporting continuity, but the gesture failed to convince the court.

From a sporting perspective, the Tonali proceeds will now be redirected to a FIFA fund rather than reaching the club's creditors. Creditors have until November 30 to file claims for admission to the passive state.

The bankruptcy also resolves the long-running dispute over the "V bianca" — the white V emblem that has been a symbol of the club. Union Pasini had previously acquired the Brescia brand from the era of former owner Gino Corioni, and Cellino can no longer block the use of the symbol on match shirts.

The end of Brescia Calcio marks one of the most significant club failures in Italian football in recent decades, eliminating a side that had been a fixture in the country's top two divisions and had produced talents including Andrea Pirlo, Roberto Baggio, and most recently Sandro Tonali.

Sources

• La Gazzetta dello Sport: https://www.gazzetta.it/Calcio/altri-campionati/28-07-2026/brescia-calcio-il-tribunale-dichiara-il-fallimento.shtml