President of soccer club Fiorentina resigns

11/24/2009 05:12 am ET | Updated May 25, 2011

FLORENCE, Italy — The president of Fiorentina has submitted his resignation at a board meeting for the Italian soccer club.

The club said it would issue a statement later Thursday explaining the reasons behind Andrea Della Valle's decision.

Mario Cognini will temporarily move up from vice president to take over the club.

Della Valle's brother Diego bought Fiorentina in 2002 after the club went bankrupt under former owner Vittorio Cecchi Gori. The Della Valle brothers guided the club up from the fourth division to a spot in the Champions League this season and last.

Fiorentina is also attempting to make plans with the city of Florence for a new stadium and "Viola village."