Italian side Parma are on the verge of going out of business after postponing their game with Udinese as they couldn’t afford to pay stewards or security staff, according to various reports.
The club has been in financial trouble for some time with no staff members including the players having been paid since the start of the season.
Ownership of the club has changed three times this season alone yet they are still on the verge of going bust.
Tommaso Ghirardi sold the club to an Albanian business in December, but less than two months later it had been sold to Giampierto Manenti.
With no funds available at the club they will be unavailable to cover the rest of their fixtures and under Serie A rules they will be relegated immediately.
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Should they fail to play the remaining games of the season they will forfeit each and every one of them 3-0.
Parma’s captain Alessandro Lucarelli has spoken openly about the failed promises Manenti told the players and staff.
He told reporters: "Manenti immediately put big promises on the table. He showed us a bank statement ‘proving’ that he had €100m available to invest in Parma.
"Then, every day, it was the same thing: there are red tape problems, we have to wait another day or two. So far, we haven’t seen a single Euro."
He continued in a different interview: "The football world knew that something wasn't right. Nobody was surprised, and rumours had been circulating even here among us.
"Someone didn't do their job properly. They should have dug a little deeper in the accounts.
"Having negotiated the transfers of 200 players should have signalled that something was out of control. Now it seems like the only possible outcome is bankruptcy.'
A meeting has been scheduled on Monday with the magistrates and council experts to try and stop the club from ceasing to exist.
Hopefully the team that has seen players like Fabio Cannavaro, Gianfranco Zola, Hernan Crespo and Lilian Thuram all pull on their jersey will find a solution to their problems and continue to trade.
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