Parma chairman Giampietro Manenti arrested over money laundering claims

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Parma president Giampietro Manenti has been arrested for money laundering as the Italian club continue to struggle.

The Serie A side have had serious financial issues since the end of last season and things have gone from bad to worse for the club as their latest president has now been arrested due to money problems.

Money Issues

Parma, who have a rich history around Europe, finished sixth last season in the league but were denied access to play in the Europe League due to unpaid bills.

Since then, four different owners have taken over at the club promising that they can help out, but on all occasions, they have been forced to leave the club due to serious issues mounting up.

Two of their previous presidents have already been banned by the Italian Football Federation for four months due to bad ownership and the latest one has now been arrested.

On the Field

Things aren't much better on the field for Parma either as they sit bottom of Serie A and have recently been docked points for not paying their players on time.

With a few months left of the season, the club are finding it hard to play in their remaining matches which could end up getting them demoted to amateur leagues.

However, if Parma can complete the season, they will only face relegation to Serie B if they can sort out their financial state during the close-season.

The club have already forfeited two games in recent weeks but they have managed to play their last two, drawing one of them and losing the other.

Arrest and Loans

However, things have got even worse for the Italian outfit now with the news that Manenti has been arrested for allegedly laundering money.

On Thursday, the club have got their bankruptcy hearing where they will find out their fate regarding the future of the club, but this latest news won't help their cause.

Parma have already been given £3.62million from other clubs in Serie A so that they can see out the rest of the season, but with debts of nearly £100m, it's likely that there will be no Parma come next season.


£12.3m of that debt is owed to tax authorities and the club are doing everything in their powers to raise the funds needed.

Some of their assets at the training ground have been put up for sale to the public to raise funds and the club have stopped running a laundry service in order to cut down bill expenses.

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