Parma players slash own wages

Parma's players have reportedly signed an agreement to reduce their own wages as part of a plan to save the club.

The Ducali were declared bankrupt on March 19 and have since been looking for a new owner to rescue them from sinking to the lowest tiers of Italian football.

The extent of the club's debt is so great, however, that the likelihood of finding a buyer has been looking dim.

Parma's players have reportedly signed an agreement to reduce their own wages as part of a plan to save the club.

The Ducali were declared bankrupt on March 19 and have since been looking for a new owner to rescue them from sinking to the lowest tiers of Italian football.

The extent of the club's debt is so great, however, that the likelihood of finding a buyer has been looking dim.

In hopes of alleviating Parma's financial situation, administrators Angelo Anedda and Alberto Guioddo have met with the players and reportedly now brokered a deal to reduce their wages from here until the end of the season.

According to La Gazzetta di Parma, the deal was signed 'almost unanimously', with only a few players abstaining.

This does not clear the club's debt, but it is hoped that it will make the club's situation less intimidating for a potential buyer.

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