1/03/03 23:52
Sergio Cragnotti has resigned as president of Lazio, ending a tenure that
has brought the extremes of success and failure to the Roman club.
The move was widely expected as shares in the debt-ridden club have soared
on the Milan stock exchange in anticipation of the boardroom reshuffle.
At one stage the shares had jumped a staggering 14.5%.
Cragnotti, who took over Lazio 11 years ago, said last month he would step
down as soon as a new set of bank-approved directors were in place.
He officially resigned during this evening's meeting of the club's board of
directors.
Under Cragnotti, Lazio won only their second league title in 2000.
However, the spending needed to bring about that success has seen the
Biancoceleste forced to sell some of their biggest names in the last year
and haggle over transfer debts.
The board are expected to appoint club lawyer Ugo Longo as a temporary
replacement for Cragnotti with Parma general director Luca Baraldi likely
to be appointed as their new administrator. The Rome giants were put up for
sale on November 13 following a financial crisis which hit their biggest
shareholder, Cirio - a food company headed by the Cragnotti family.
sportinglife
--
Some things lighten nightfall
and make a Rembrandt of a grief.
But mostly the swiftness of time
is a joke; on us. The flame-moth
is unable to laugh. What luck.
The myths are dead.
--
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