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Cash-strapped Parma rescue 'plan' in place

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Cash-strapped Parma rescue 'plan' in place
A financial rescue plan to enable cash-strapped Parma see out the remainder of the Serie A season is in place. Photo: Paolo Cocco/AFP
08:28 CET+01:00
A financial rescue plan to enable cash-strapped Parma see out the remainder of the Serie A season is in place, the Italian football federation (FIGC) said on Wednesday.

"We've established a plan which has already been presented to various clubs in Serie A," FIGC president Carlo Tavecchio revealed.

The FIGC is seeking financial help from the Italian professional league to keep Parma going with the club's immediate fate set to be determined at a meeting on Friday.

Parma players have refused to play their last two league games, at Genoa away and at home to Udinese.

The club is said to be €100 million in debt with some €17 million owed to the tax authorities.

Serie A has already docked the squad a penalty point as result of delays in meeting players salaries.

The league's rescue package is believed to involve the sum of €5 million to keep the club afloat.

A bankruptcy hearing on March 19th is due to decide whether Parma can continue operating. If it rules no, Parma will not complete its remaining fixtures.

If Parma do drop out of this season's league, all previous results stand and future results are recorded as a 3-0 win to the opposition.

Parma are due to play Atalanta on Sunday.

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