Palermo President Maurizio Zamparini: Italian Football Is Not In Financial Meltdown, Unlike England & Spain

Zamparini has taken a swipe at English football.
Palermo president Maurizio Zamparini said Italian football has nothing to worry about financially compared to the game in England and Spain following a UEFA report that claims the Premier League is a leader when it comes to clubs in debt.

"There is no crisis in Italian football, and we are doing fine from a financial point of view," Zamparini told

"Italian football clubs cannot go bankrupt because they are covered by bank guarantees.

"The clubs who are going bankrupt are in England, Spain and Germany, where they have mega debts.

"I think the difference is in the systems used by Italian banks compared to foreign ones."

UEFA are hopeful of designing new initiatives to help curb the debt problem in European football.

In their report, the governing body said Italy has a debt of €479 million, compared to England's €3.8 billion.

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