Shares in Lazio rose sharply after the Italian soccer club's board accepted the resignation of chairman Sergio Cragnotti.
Shares in the club increased by 6.7 percent with the news that Cragnotti was to leave the club. The inflated share price valued the soccer club at EUR130m ($136m).
Cragnotti's is to be replaced as chairman this week by existing board member Ugo Longo. Cragnotti indicated he would resign as chairman of Lazio at the end of last year as the club struggles to pay its players and creditors.
Lazio last month said it will raise as much as EUR80m selling new shares to pay its players and creditors.
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