The future of Lazio remains in doubt after the Milan stock exchange suspended indefinitely trading in the company’s shares.

Borsa Italiana said shares in the club would be suspended until further notice.

Lazio’s second-half 2003 net losses increased to to €68.1m from €47.2m in the same period of 2002.

Sergio Cragnotti, the former owner of the Serie A club, is being investigated following the the collapse of Cirio, the Italian canned food company of which he was the former chairman.

Italian clubs are facing a mounting cash crisis and last week, although temporary repprieve came from a recent ruling by the EU which allows clubs to spread their debts over the next 10 years, rather than being forced to balance their accounts at the end of the season.