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Italian league split proposed after rift

The Italian soccer league could split in two after a meeting of Serie A and B presidents ended without agreement over future financial arrangements.

"We have created a new league for Serie A," Palermo president Maurizio Zamparini told reporters after being the first to leave the meeting in Milan.

"This time it's for real. It's not satisfactory but it was necessary."

The Italian professional league is made up of the top flight Serie A and the second tier Serie B.

Presidents of second division clubs have been at loggerheads for years with their Serie A counterparts over how wealth is spread within the league. Several Serie B sides have recently encountered financial problems.

Maurizio Beretta, the former head of Italy's employers' association, has been proposed as the new president of a possible breakaway Serie A after league encumbent Antonio Matarrese failed to find consensus over a way forward.

Beretta arrived at the meeting after Zamparini left.

The English Premier League broke away from the other three professional divisions in 1992 and has gone on to become the richest in the world thanks to the absence of smaller clubs sapping resources.