GENEVA (AP) – The owner of Swiss club Servette says he has placed the club into bankruptcy, becoming the second team in the 10-club top division to go bust this year.
Iranian businessman Majid Pishyar says in a statement that he took the ''complicated'' decision with a ''broken heart.''
He directed blame at the city's government and business community whose ''support has, unfortunately, been below my expectations.''
Pishyar, who took charge in 2008, says ''we will continue to fight for Servette.''
It was unclear if the club will complete its matches this season. It also fell into bankruptcy in 2005 and was demoted midseason.
In January, Chechen-owned Neuchatel Xamax was declared bankrupt and dropped out of the league.