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By ESPN Staff

Bologna bailed out

Bologna president Sergio Porcedda has found new owners for the Serie A club.

Giovanni Consorte and Massimo Zanetti, the owner of the Segafredo coffee company, have reached an agreement to buy the northern Italian side. Bologna will therefore avoid going into bankruptcy.

A club statement read: "After a long and complex negotiation process to save and revive Bologna FC 1909, we have reached an agreement. The talks were held via Intermedia Finance on behalf of Comitato Bologna 2010 with the owners of Bologna represented by Porcedda and Renzo Menarini.

"In the next few days, we will formalise all the contracts, administrative and financial issues to make the deal official. We wish to thank everyone who collaborated and contributed to the success of this operation.''

Porcedda only bought Bologna this year but put the club up for sale last month because of their financial difficulties.

Earlier this month, Bologna were docked one point while Porcedda was hit with a six-month ban because of unpaid taxes.

Despite the off-the-field distractions, Bologna are in 14th place, five points clear of the drop zone heading into the Christmas break.

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