Swiss Super League Club Servette filed for bankruptcy on March 1st in a turbulent season for Swiss domestic football during which Neuchatel Xamax have been ejected from the league and Sion docked 36 points.
Canadian businessman Quennec and lawyer Dominique Warluzel said in a joint statement they have asked the courts to stay a bankruptcy declaration which would have been imposed this week.
"Mr. Quennec will pay the current expenses of the club" for 30 days, the two said in a joint statement.
During this period, Quennec will have 30 days to examine the club's books and after that he could become head of the football club, whilst retaining control of the ice hockey club.
The statement said the former president of SFC, Iranian entrepreuner Majid Pishyar, has renounced all his claims on the club, which he sold for a symbolic Swiss franc to the Canadian.