Chaos at Lazio as COVISOC Blocks the Club’s Transfer Plans

Lazio are facing a major crisis as COVISOC could prevent them from making any signings throughout the summer transfer market.

The Background

Biancocelesti president Claudio Lotito has been accused by the fanbase of being too tight-fisted on the market, but the patron often brags about his savvy management after taking over a club on the verge of bankruptcy in 2004, and keeping it afloat. But for the first time in 21 years, Lazio are enduring a major financial crisis under Lotito’s tutelage.

COVISOC Blocks Lazio’s Transfer Dealings?

According to Il Messaggero (via La Lazio Siamo Noi), the club has fallen outside of the accepted parameters on three different indicators: the liquidity index, debt and the extended labor cost. Therefore, COVISOC (the body responsible for monitoring clubs’ finances in Italy) will block Lazio’s transfer market operations.

Loum Tchaouna Can Still Join Burnley

Therefore, the Aquile are prevented from buying any players until September 1. On the contrary, they will be allowed to sell players. Hence, Loum Tchaouna’s expected move to Burnley shouldn’t be affected. The newspaper adds that Lotito can only solve the situation by covering the €90 million himself.

Bleak Days Ahead for Lazio?

It should be noted that COVISOC’s stance was based on Lazio’s half-yearly financial report presented on March 31. Hence, we must await the results of the next report (expected on September 30) to find out whether the club will face a similar situation in the January window, or receive the green light to make new signings.

Claudio Lotito Belittles the Crisis

As Il Corriere dello Sport notes, the club president tried to downplay the whole issue by describing it as ‘solvable’. The club has now denied the whole story through an official statement.