ZURICH, SWITZERLAND – Xamax, the Neuchatel football team, lost its license Wednesday 18 January, the latest in a string of major distractions off the field, for the team and Swiss football fans. Controversial club owner Bulat Chagaev has five days to appeal and show that the club is financially sound.
TSR, Swiss public television, Wednesday evening carried a series of reactions to the club’s bump from the Super League as the result of the move by the Swiss Football Association.
The license was taken away after a string of financial incidents, from unpaid supplier bills to unpaid social security bills and alleged fake statements showing that the Chechen owner has $35 milion with which to back the club.
Fox Sports reports that the license loss has prompted an ownership group to prepare “to save the publicly humiliated club from an apparently inevitable demotion of at least two divisions, and possible bankruptcy under its current Chechen owners.” TSR, Swiss public television, reports Wednesday night that
Swiss football has been suffering in recent weeks from other off-the-field fights, with Sion being fined 36 points by the Swiss Football Association, a move the club has hotly contested.
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News story, GenevaLunch, 18 January 2012.
Tags: Bulat Chagaev, Chechen owner, club, financial problems, football, license, points, Sion, Swiss, Xamax