Cup winners in 2001, out of existence in 2002: how Fiorentina collapsed

Fatih Terim arrived in the summer of 2000, having just won the UEFA Cup with Galatasaray. He lasted until 26 February 2001, when he was sacked after a home draw with Brescia. The general director, Giancarlo Antognoni, went the same day.

The next day the club named Roberto Mancini as coach. A month earlier he had been playing for Leicester City. He had never coached a team and didn't have the licence to coach one in Serie A, and he was already registered that season as an assistant at Lazio. The federation's technical sector said no. On 7 March the federation's commissioner, Gianni Petrucci, overruled it.

A cup in June

Fiorentina finished ninth, but they reached the Coppa Italia final against Parma. On 24 May 2001 they won the first leg 1–0 at the Tardini, with a late goal from Paolo Vanoli, a defender they had signed from Parma. On 13 June, in front of 37,664 at the Franchi, Savo Milošević put Parma ahead in the 39th minute. Nuno Gomes equalised in the 65th. It finished 1–1, and Fiorentina had their sixth Coppa Italia.

Thirteen days later, on 26 June, the club's accounts were certified with a deficit of 315 billion lire.

The sales

That summer Francesco Toldo went to Inter for 55 billion lire and Rui Costa to Milan for 85 billion. According to La Nazione, all 140 billion went on debts to the tax authorities.

The new season started with a 3–0 defeat by Roma in the Supercoppa. On 30 September Enrico Chiesa, who had scored in each of the previous five games, badly injured his knee against Venezia. Early in January 2002 Fiorentina lost 3–1 at home to Perugia. Soon afterwards, following a confrontation with ultras outside his home, Mancini left. The young Brazilian Adriano arrived that month and scored six goals. It made no difference. Relegation was confirmed in late April. Fiorentina finished 17th with 22 points, having lost 22 of their 34 games.

1 August 2002

To register for Serie B the club needed around €22m. On 29 July Vittorio Cecchi Gori tried to register it with a guarantee of €22m which he said came from a bank in Colombia.

At 11.44 on 1 August 2002 the Lega council, chaired by Adriano Galliani, excluded Fiorentina from professional football. Ternana took their place in Serie B. "The old Fiorentina no longer exists," Galliani said. "It is essential that a new club is born to represent Florence." The club's last match had been a pre-season friendly against Verona at Rovereto six days earlier, a 1–1 draw. The old company was dissolved in bankruptcy. Years afterwards a civil court ordered Vittorio Cecchi Gori to pay about €20m over the collapse. It found that he had used the club as a "cassa continua", a cash machine, for other companies in his group. His lawyers said they would appeal.

At 16.30 the same afternoon a new company, Fiorentina 1926 Florentia, was formed in front of a notary. Its president was the mayor of Florence, Leonardo Domenici.

Florentia Viola

Later that month Diego Della Valle took the new club over. He put in €7m and renamed it Florentia Viola, and it was placed in Serie C2, the fourth tier. "In Florence I'm offering football without stress and without debts," he said. Only one player from the old squad stayed: Angelo Di Livio.

The first coach was Pietro Vierchowod. "When I arrived there was nothing," he said. "We went out and bought shirts and balls." Alberto Cavasin replaced him after nine games. About 18,000 people bought season tickets, and the average crowd at the Franchi was 24,000. Florentia Viola won the division by 12 points, sealing promotion on 27 April 2003 with two games left, and were then admitted straight to Serie B.

In May 2003 Della Valle bought back the Fiorentina name, the colours and the trophies, and the club became ACF Fiorentina again. "The Florentia Viola period was a romantic one," Di Livio said later.