New York lawyer and new Bologna president Joe Tacopina is locked in a dispute with the club's former owner over a contested payment.

Former Bologna president Albano Guaraldi released a statement Monday saying Tacopina didn't respect an agreement to pay 6 million euros ($7.5 million) as part of the club's takeover last month, thus "violating the contract for the sale."

But Tacopina tells The Associated Press in an email, "They chose not to accept the bank we were dealing with for the guarantee. ... It's a technical matter not a financial one. WE DID NOT miss a payment."

Tacopina declined to name the bank, saying "They are perfectly acceptable but apparently not for Bologna 2010 (the former ownership group)."

Bologna was relegated last season and stands seventh in Serie B.