Football
Ben Gladwell, Italy correspondent 8y

Sampdoria president Massimo Ferrero has €1 million assets seized

Sampdoria president Massimo Ferrero has had assets worth over €1 million seized by Italian tax authorities investigating suspected tax evasion by the 64-year-old.

The Rome prosecution office is conducting an investigation into Ferrero's business dealings to determine if he declared full taxes on a company he acquired in 2009.

Ferrero gained control of the Genovese club for free in June 2014, agreeing to take on approximately €15m of debts in assuming a majority share in the club from Edoardo Garrone.

He was sentenced to a year and 10 months in prison for the fraudulent bankruptcy of an airline company -- Livingston -- which he owned, but his solicitor published a statement on Sampdoria's website saying he will clear his name this time.

"With reference to today's news, the solicitor Giuseppina Tenga, defending the interests of Mr Massimo Ferrero, states that the motivation behind Rome's re-examination tribunal's actions has not yet been received and highlights that the preventative repossession if assets originates from fiscal declarations made by a company acquired by the Ferrero group in 2009," read the statement.

"The necessary payment schedule of taxes being paid regularly has been produced and exhibited to the judicial authorities. What is false, misleading and seriously damaging to the reputation of Mr Massimo Ferrero is the story referred to by ANSA that "documents have been concealed and destructed. President Ferrero reserves every right to defend his reputation."

Sampdoria qualified for the Europa League at the end of Ferrero's first season as president, although only due to a default by their city rivals Genoa which led to them failing to secure a UEFA licence despite finishing one position above the Blucerchiati.

Their run in the Europa League did not last long, however, as they were eliminated in the third qualifying round -- their debut in the competition -- by Vojvodina.

The 1992 European Cup finalists are currently seventh in the Serie A standings, six points behind league leaders Roma.

^ Back to Top ^