Gheddafi not so interested anymore
Posted November 22, 2002 - 10:23 by Mattias
(Reuters) - Libya is no longer interested in purchasing up-for-sale Serie A
club Lazio, the spokesman for Al-Saadi Gaddafi, son of Libyan leader Muammar
Gaddafi, has said.
"The Libyan authorities, after a careful evaluation regarding the possibility
of acquiring the majority stake in SS Lazio, have decided they are no longer
interested in the matter," Gianluca Di Carlo, Italian communications director
for Al-Saadi Gaddafi, told Reuters.
Gaddafi had said on Sunday that Libyan authorities were looking into the
possibility of purchasing the Italian club, who are currently fourth in Serie
A.
They have been put up for sale by the troubled Cirio group who hold majority
ownership.
Club president Sergio Cragnotti's attempts to sell Lazio were complicated by
the announcement from the club's accountants on Tuesday that they could not
verify the results for the final year ended June 30.
Between July and September Lazio lost nearly 45 million euros ($45.56 million
).
Accountants Deloitte and Touche said they had found an imbalance in the club's
finances as liabilities significantly exceeded current assets, including loans
to the troubled Cirio.
Lazio still owe Manchester United several million pounds for the transfer of
Dutch defender Jaap Stam, who moved to Rome 14 months ago and the English
premier league club have had to instigate legal proceedings to recover the
money.
Al-Saadi Gaddafi is heavily involved in Italian football and recently became
a member of the board of champions Juventus after the Libyan Arab Foreign
Investment Company (LAFICO) took a 7.5 percent share in the club.
Earlier this month Al-Saadi, who plays for Libya and is one of his country's
soccer officials, signed a cooperation deal between the Libyan soccer
authorities and Lazio.
The deal, reported to be worth $600,000 to the Italian club, would allow
Tripoli-based club Al-Ittihad, who Al-Saadi plays for, to use Lazio's training
ground for 10 days a year and also foresaw several other link-ups.
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