Italian Football Club Wins Long Delay on State-Backed Loans
- Sampdoria will have at least an extra decade to pay off debt
- The loans were granted under a pandemic-era support program
Tomas Rincon of Sampdoria fights for the ball during a match between Udinese Calcio and UC Sampdoria in Udine, Italy, on May 8.
Photographer: Timothy Rogers/Getty Images
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A struggling Italian football club has won a reprieve on its state-backed loans in an unusual deal that’s designed to avoid taxpayer losses.
Unione Calcio Sampdoria SpA will have at least an extra decade to repay about €50 million ($55 million) in loans granted under a government aid program during the pandemic. The club, which was relegated to Italy’s second division in June, is in the process of trying to shore up its finances to sell itself.