Parma have officially been declared bankrupt, and will have to be funded by the Lega Serie A to finish the season.
The Emilian side had a hearing today to decide whether to declare the club insolvent, and things did not look hopeful when the proceedings concluded uncontested after ten minutes.
Following the arrest of club President Giampietro Manenti, the Ducali did not seek to fight the bankruptcy proceedings against them, and the verdict was virtually guaranteed.
Parma have officially been declared bankrupt, and will have to be funded by the Lega Serie A to finish the season.
The Emilian side had a hearing today to decide whether to declare the club insolvent, and things did not look hopeful when the proceedings concluded uncontested after ten minutes.
Following the arrest of club President Giampietro Manenti, the Ducali did not seek to fight the bankruptcy proceedings against them, and the verdict was virtually guaranteed.
It has now been confirmed that the court in Parma has declared the club bankrupt, with receivers Angelo Anedda and Alberto Guiotto appointed on a provisional basis.
It is not clear whether the club’s players will now finish the season, with midfielder Daniele Galloppa warning earlier today that it would ‘depend on many things’.
There is a plan in place from the Lega Serie A and the FIGC to fund the club until the end of the season, with the money coming from fines paid by other Serie A teams.