Financial crisis hammers lower league clubs in Italy

By Mark Meadows

MILAN (Reuters) - At least four third-tier Italian clubs will not take part in this season's championship because of financial difficulties, football federation president Giancarlo Abete said Monday.

Treviso and Venezia, who have both played in Serie A in the last decade, and relegated Serie B clubs Pisa and Avellino failed to give sufficient economic guarantees to authorities.

"They will not enter next season. In these important places for our football, it is now crucial to find businessmen who can breathe new life into the clubs and keep finances balanced," Abete told Italian radio.

Other professional clubs in Italy's third division, now known as Lega Pro rather than Serie C, are at risk of dropping out, officials have said.

Authorities hope any clubs forced to drop out will be able to carry on playing in amateur leagues, but dozens of players who want to stay professional are now seeking work.

Several Italian clubs encountered financial problems in the last few years even before the global economic crisis.

Top flight sides Fiorentina and Napoli went bankrupt and were reformed in the lower leagues before rising back up the ladder.

Officials have been trying to make Italian clubs more financially secure for years but the head of bourse regulator Consob said it had been a mistake for some of them to list on the stock exchange.