Parma’s future will be decided on Wednesday, as either they’ll go bankrupt or be allowed to negotiate a private sale.
Time is running out for the Ducali and on Tuesday there was a bitter blow, as the final auction did not receive a single bid even at the price of €4.5m.
The only envelope handed in was a declaration of interest from Giuseppe Corrado, who owns the Space Cinema multiplex chain in Italy.
Parma’s future will be decided on Wednesday, as either they’ll go bankrupt or be allowed to negotiate a private sale.
Time is running out for the Ducali and on Tuesday there was a bitter blow, as the final auction did not receive a single bid even at the price of €4.5m.
The only envelope handed in was a declaration of interest from Giuseppe Corrado, who owns the Space Cinema multiplex chain in Italy.
There is also interest from baseball hero Mike Piazza and a third group that includes businessman Andrea Meli.
On Wednesday at 13.30 Italian time (12.30 UK time, 11.30 GMT), bankruptcy tribunal judge Pietro Rogato will meet with the administrators and a group of creditors, including Parma captain Alessandro Lucarelli.
In that meeting it will be decided whether to wind the club up immediately or enter into private negotiations for a sale.
There are several concerns. Firstly, Rogato had already said on May 28 that he was against the idea of private negotiations, which is why the extra auction was organised.
Secondly, Parma need to find an owner who will wipe out the €22m sporting debt before June 30 to register for the 2015-16 Serie B season.
If that deadline is not met, Parma will effectively cease to exist and be forced to begin again from the Serie D amateur league.