NEWS
Tuesday April 21 2015
Parma on sale for €20m

Parma are officially up for auction, with the bidding starting at a base price of €20m.

The Ducali have been declared bankrupt, and will be relegated at the end of the season, with only mathematical certainty yet to condemn them.

If a buyer can take over the club and pay off its €74m sporting debt, then the Emilian side will be allowed to compete in Serie B next season, and today marks the first step in that process.

A statement on the club’s official website announced the move, giving a May 6 deadline.

“Today, the bankruptcy judge Pietro Rogato, with the approval of the creditors’ committee, has authorised the administrators Angelo Anedda and Alberto Guion to proceed with the sale of the sporting identity of Parma.

“The sale, involves the collection of formal offers by May 6, 2015. The base price is set at €20m.

“If no valid bids are submitted within the period given, new bidding procedures will take place on May 12, May 18, May 22 and May 28.

“For each auction, the base price will be 25 per cent lower than the one previous. Expressions of interest can be presented by Italian companies and foreign companies.”

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