Football: Petrolul Ploiesti goes bankrupt

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Football club Petrolul Ploiesti is officially bankrupt. Prahova Court upheld the request filed by the receiver and endorsed the conclusions of his report, digisport.ro reports.

Officially, Petrolul became insolvent in early February last year, namely on February 5, 2015, when the Court upheld the application filed by the club in Ploiesti (60 km north of Bucharest).

Petrolul was founded in 1924 in Bucharest, the club initially bearing the name of Juventus and becoming champion of Romania in 1930.

In 1952, the team was moved to Ploiesti, the start of the best period in the history of the club, which won three titles in 1958, 1959 and 1966 and won its first Cup of Romania in 1963.

Petrolul won another two Romanian Cups in 1995 and 2013.

Petrolul is the only team in Romania which succeeded in defeating FC Liverpool. It happened in the first round of the Champions Cup in 1966/67, when Petrolul won 3-1 at home, and then it was defeated after a qualification game.

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