Overview
- A tribunal in Brescia ordered the bankruptcy and opened formal liquidation of Brescia Calcio srl after judges concluded the club was insolvent with about €20–23 million in accumulated debt.
- The court set a deadline of 20 November 2026 for creditors to file claims in the liquidation process that will wind up the company and can extinguish the corporate entity.
- Owner Massimo Cellino said he is studying an appeal but the judicial finding of insolvency and the opened liquidation period make reversal unlikely under current proceedings.
- Brescia had been excluded from Italy’s professional competitions in 2025 after unpaid wages and financial irregularities, and recent receipts such as training‑rights money from Sandro Tonali proved insufficient to cover the shortfall.
- A separate entity, Union Brescia, now competes in Serie C using the Mario Rigamonti stadium and the club’s colors and is presented as the city’s main football project while creditors and former staff face legal and financial uncertainty.