The office of the Russian Premier League has received a letter from FK Saturn to notify of the club's refusal to participate in the coming season due to huge debts.
A meeting had been set for January 25 to allow both Amkar Perm and Saturn Moscovskye Oblast to find a financial solution to their debts, with Amkar edging closer to solving their problems before the deadline. The Moscow region club had pinned their hopes on Lithuanian businessman Valdimir Romanov, however he could not reach an agreement for the sale.
Meanwhile, Romanov is considering two other clubs, Torpedo Moscow and Nizhny Novgorod, after not wanting to rush into a deal.
According to Sovsport.ru, Saturn will have to begin bankruptcy proceedings next month and will likely move down to the second tier of Russian football.
President of the RPL, Sergei Pryadkin, has received the news that FK Krasnodar are ready to take the place of Saturn in the Premier League next season.
However Krasnodar finished fifth in the second division last year and a final decision will be taken during the January 25 meeting, as Pryadkin is still waiting for declarations of readiness from third place finishers Nizhny Novgorod and fourth-placed Kamaz.
Follow Goal.com on . Get the latest football news direct... Check out Goal.com's page; be part of the best football fan community in the world!