Parma’s sporting debt has now been reduced to €22.2m, so with that sum a new owner could register for the Serie B season.
There are two different debts for the bankrupt club to deal with, but the most urgent is the sporting debt – money owed to players and staff.
If that is not paid off by the deadline to register for the 2015-16 season, Parma will be forced to begin again from the amateur leagues.
Parma’s sporting debt has now been reduced to €22.2m, so with that sum a new owner could register for the Serie B season.
There are two different debts for the bankrupt club to deal with, but the most urgent is the sporting debt – money owed to players and staff.
If that is not paid off by the deadline to register for the 2015-16 season, Parma will be forced to begin again from the amateur leagues.
This is why the current squad and administrators have been racing against time to vastly reduce the money owed in outstanding wages, often by as much as 75 per cent.
On Thursday evening the administrators released a statement confirming the sporting debt had been cut to just €17.2m, plus €5m in taxes and pension contributions.
There are several groups interested in buying Parma, including one led by baseball legend Mike Piazza.