Fiorentina – The Florence club enjoyed some famous Champions League nights during the 1999-2000 season but financial problems took hold. In the 2001-02 season the club were relegated from Serie A and were soon declared bankrupt meaning they were refused a place in Serie B. The club ceased to exist and a new side was created and admitted to Serie C2. In 2003 the club bought back the rights to use the Fiorentina name and shirt design before returning to the Italian top flight in 2004. 11 Nottingham Forest – With Brian Clough in charge between 1975 and 1993 Forest enjoyed great success becoming English champions in 1978 before winning back-to-back European Cups in 1979 and 1980. However, the current Nottingham Forest side under the ownership of the Al-Hasawi family is a far-flung entity. Last season the team narrowly avoided relegation to League One after clinching a vital 3-0 win against Ipswich on the final day. 11 11 Portsmouth – The 2008 FA Cup winners suffered a financial meltdown that saw them fall to League Two just five years on from that famous Wembley win. Harry Redknapps cup-winners featured the likes of David James, Sol Campbell and Lassana Diarra but all of those high earners were soon shipped off as the club battled to save themselves. After two administrations things now seem to be looking up for the south coast club as they were promoted as League Two champions last season. Blackpool – Under Ian Holloway the club enjoyed a dream rise to the Premier League in 2010 but were subsequently relegated from the top tier after just one season. Blackpool came close to securing an instant return but lost to West Ham United in the 2012 Championship play-off final it was downhill from there under the Oyston family ownership. The club famously only had eight outfield players and no goalkeeper just two weeks before the start of the 2014-15 Championship season, which gave a glimpse into the mismanagement at the club. Relegation to League One arrived in April 2015 and was followed by a second successive drop to League Two. Under manager Gary Bowyer the club were promoted back to league One last season, via the playoffs, but fan boycotts and protests are still commonplace at Bloomfield Road. 11 Leeds United – An English footballing giant that has become synonymous with falling from grace so much so the term doing a Leeds is a descriptive phrase in its own right. The club enjoyed huge success under the likes of Don Revie and were champions of England the year before the Premier League was established. Massive transfer fees were paid on stars to take the club back to the top under chairman Peter Ridsdale but huge loans were taken out to fund the moves. It was hoped money from Champions League qualification would be used to repay the loans but the club missed out on the competition for two straight years and they were soon in a financial mess. The club tumbled out of the top division and fell to League One in 2007. 11 1860 Munich – Die Löwen (The Lions) suffered relegation into Germanys third tier last month. Wolverhampton Wanderers – Wolves enjoyed a great period of success under the management of Stan Cullis but financial mismanagement in the 1980s saw the clubs existence under threat. More recently, however, Wolves suffered another fall from grace after Mick McCarthy had guided them back to the Premier League in 2009. After three successive seasons in the top flight Wolves fans were subjected to back-to-back relegations. Kenny Jackett brought the club back to the Championship but was removed as head coach when current owners Fosun bought the club in July 2016. Wolves have now seen three managers in less than a year since Fosun took control with Nuno the latest man to take the helm. 11 11 Parma – After a dramatic rise to grace Italian and European football throughout the 1990s and 2000s Parma then suffered a significant demise. In March 2015 the club was declared bankrupt after racking up debts of approximately 220million. Former Argentinian striker Hernan Crespo, who had two spells at the club and was a youth team coach during their financial crisis, said that his youth players had to take cold showers because the club couldnt afford to pay for hot water. A phoenix club was created, called Parma Calcio 1913, and currently compete in Italys third tier. 11 11 11 FC Magdeburg – The German team were one of East Germanys best sides and won the European Cup Winners Cup in 1974. However, after German reunification the teams history hasnt been quite so glorious. Mismanagement in the 1990s saw the team tumble down Germanys footballing pyramid. The team were promoted to the third tier of German football in 2015 but this was the first time they had played professional football since reunification. Rangers – Perhaps one of the most dramatic falls from grace in recent times is that of Rangers champions of Scotland on 54 occasions. The Glasgow giants were placed into administration in February 2012 and handed a 10-point deduction in the process. However, worse was to follow as the clubs financial problems spiralled out of control and they were subsequently liquidated in June of that year. Rangers restarted as a new company but their application to reclaim their place in the Scottish top flight was rejected and they were placed in the Third Division. The club worked their way back up and finally returned to the top flight last year finishing in third place. Coventry City – The club enjoyed 34 consecutive years in Englands top flight before suffering relegation in 2001. In 2007 hedge fund SISU took over the club and are much loathed by the Coventry fans. In 2012 the club fell to League One and the mismanagement has continued as they dropped to League Two last season despite winning the EFL Trophy. 11 One of Germany’s best-supported clubs, 1966 Bundesliga Champions 1860 Munich, have suffered a catastrophic fall from grace – and it could get worse.Die Löwen (The Lions) suffered relegation into Germany’s third tier last month after losing their crucial play-off second leg 3-1 to Jahn Regensburg.However, after failing to pay their licence for participation in the 3. Liga they could suffer further demotion to the Regionalliga – the amateur fourth tier in Germany.A reduction in revenue will result in drastic cost-cutting and they will most likely have to move out of the Allianz Arena – which they share with Bayern Munich – back to their old Grunwalder Strasse stadium.But 1860 Munich are not the only team to have suffered a significant drop down the footballing pyramid.Scroll through the gallery above to see other European sides that have tumbled downwards.