Parma’s administrators have warned if the ‘sporting debt’ is not reduced by April 30, they won’t be able to finish the season.
The club was placed under administration after being declared bankrupt in March and today administrators Angelo Anedda and Demetrio Albertini met with FIGC President Carlo Tavecchio.
A statement released by Parma confirmed the sporting debt held by the club must be reduced drastically by April 30 or it will be "impossible" to continue even under administration.
On that date the bankruptcy tribunal will decide whether it’s worth Parma continuing to play for the rest of the season or winding up immediately.
The squad has continued to play even without wages since July 2014 in the hope this club can be sold to new owners and begin afresh from Serie B.
However, it seems the outstanding debts – thought to be in the region of €200m – are so bad that buyers would be extremely difficult to find.
It is now hoped the FIGC can organise a payment system to spread out the cost of the sporting debt.
There was more bad news today, as Parma were docked another four points for financial irregularities and non-payment of taxes.
They are now docked seven points in total.
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