Parma’s fate could be decided tomorrow, as administrators consider three expressions of interest, but no bids in the final auction.
The club faces a race against time to pay off the sporting debts – which players and staff lowered to around €22m thanks to waiving almost 75 per cent of outstanding wages – before registering for the Serie B season.
If they miss that June 30 deadline, Parma will be forced to begin again from the Serie D amateur League.
Parma’s fate could be decided tomorrow, as administrators consider three expressions of interest, but no bids in the final auction.
The club faces a race against time to pay off the sporting debts – which players and staff lowered to around €22m thanks to waiving almost 75 per cent of outstanding wages – before registering for the Serie B season.
If they miss that June 30 deadline, Parma will be forced to begin again from the Serie D amateur League.
Now that the final auction has passed with no formal bids, despite the price being lowered to €4.5m, the only way to save the club is through private negotiations for a sale.
Administrators received three expressions of interest, believed to be from cinema chain magnates Giuseppe and Giovanni Corrado, American baseball legend Mike Piazza and Paolo Scudieri representing the Adler Group.
They will take the situation to the bankruptcy court on Wednesday, at which point it will be decided whether to go into private negotiations or wind the club up immediately.
If Parma fail to register for the Serie B season, one of the clubs relegated into Lega Pro will likely be promoted back in their place.