Brescia go bankrupt: 114-year-old Italian club - once home to Roberto Baggio, Pep Guardiola & Mario Balotelli - loses right to compete in professional leagues after failing to honour €3m debt

Brescia played the most recent season in Italy's second tier, Serie B, and after narrowly avoiding relegation, it was expected that they would stay put in the league. They have also been docked four points from their most recent Serie B tally, and have been relegated to Serie C. However, after failing to pay off their debts worth €3m, the 114-year-old club could be set to face expulsion from the professional divisions.

Brescia had until Friday to pay outstanding unpaid wages from the last two months, according to various reports. However, the deadline passed with no payment delivered. Since 2017, the Biancazzurri have been owned by Massimo Cellino, an Italian entrepreneur. Cellino was previously the owner of Leeds United, where he was well known for his revolving door strategy of management changes and legal issues, which put the English side under financial strain.

Many big names have played for Brescia over the years, including the likes of Roberto Baggio, Pep Guardiola, Andrea Pirlo, Luca Toni and, most recently, Mario Balotelli.

The Italian side is now set to be demoted all the way down to Serie D, the first tier of Italy's non-professional leagues. However, the club could also potentially be dissolved if no one decides to buy them out, with Cellino heading to the bankruptcy courts.