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Massimo Ferrero has resigned as president of Serie A club Sampdoria.
Sampdoria president Massimo Ferrero has resigned after his reported arrest on Monday for alleged involvement in fraudulent bankruptcy cases, the Italian Serie A club announced.
"We learned with great surprise of the arrest of Massimo Ferrero (...) for bankruptcy cases which date back many years," Genoa-based outfit said in a statement.
"It is important to clarify that these matters have absolutely nothing to do with the (club) management."
"To protect at best" the interests of Sampdoria, Mr. Ferrero "intends to resign immediately from all his functions and make himself available to investigators," the statement added.
According to Italian media, Ferrero was arrested on Monday in Milan and taken to a prison in the northern Italian city.
The 70-year-old is accused, along with five others who have been placed under house arrest, with fraudulent bankruptcy and other alleged financial crimes.
According to his lawyer, quoted by the daily newspaper Il Corriere della Sera, the arrest was linked to the bankruptcy of companies with headquarters in the southern Calabria region.
Sampdoria are currently in 15th place in the Italian top-flight.
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