Finance Notes: Serie B Club Bari On The Verge Of Bankruptcy

Serie B club Bari is "on the verge of bankruptcy after the water supply to the Stadio San Nicola was cut off due to unpaid bills." Club President Cosmo Antonio Giancaspro is at the center of "several investigations into financial irregularities, having already seen the team docked two points" and lose its home status in the promotion playoffs. Now the club "is heading for potential bankruptcy," as Giancaspro must find €5M ($5.9M) by June 26 to pay outstanding wages and pension contributions (FOOTBALL ITALIA, 6/11).

Pro14 side Munster expects a "small loss" of €40,000 ($47,000) for the year through June on revenues of €16.9M ($19.9M). A reduction in grant income from the Irish Rugby Football Union and "no gate income" from hosting a touring int'l side were responsible for reduction of turnover by €900,000 ($1.06M) compared to the previous year (RUNNING RUGBY, 6/11).