Football
PA Sport 9y

Italian court approves 20-million-euro price-tag for Serie A side Parma

An Italian judge has given his permission to the receivers dealing with bankrupt Parma for the Serie A club to be put up for sale for a minimum of €20 million (£14.4 million).

Judge Pietro Rogato has set a deadline of May 6 for binding offers to be made, after which the minimum sale price will be reduced by 25 percent with each consecutive round of bidding.

Accountants Angelo Anedda and Alberto Guiotto are charged with looking for a buyer for the club which was declared bankrupt inside 10 minutes of a court hearing last month.

Parma's players have not been paid since last summer and have struggled to transport themselves to games, while matches have been postponed due to lack of funds at the Stadio Ennio Tardini.

A statement published on Parma's official website on Tuesday confirmed bids from both Italian and foreign buyers would be entertained.

The Gialloblu were sold to a Russian-Cypriot conglomerate in December before being transferred -- for the price of one euro -- to the ownership of the Slovenia-based Mapi group in February.

Parma prop up the Serie A table with only 13 points from 31 games and, with only seven games of the season remaining, any rebirth following a successful takeover will occur in a lower tier.

The two-time UEFA Cup winners have never won the Scudetto but finished second to Juventus in 1997 under the stewardship of now Real Madrid coach Carlo Ancelotti.

^ Back to Top ^