Under new manager Roberto Mancini, Lazio finished 4th in Serie A and reached the semi-finals of both the Coppa Italia and the UEFA Cup.

Owing to financial worries, club president Sergio Cragnotti sold several players, including club legend defender Alessandro Nesta to AC Milan, forward Hernan Crespo to Inter and Gaizka Mendieta was loaned out to Barcelona.

Among the new arrivals were young coach Roberto Mancini, along with low-profile players such as Bernardo Corradi from Chievo and Enrico Chiesa.

On 3 January 2003, a majority of club shareholders appointed Ugo Longo as its new president, putting an end to Cragnotti's ten-year term.

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