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Parma put up for auction

Published: Tuesday 2 January 2007, 12.26CET
Parma FC, who have been in administration since 2004, are to be put up for sale in a sealed-bid auction with the hope of securing the club's future.
 
 
Published: Tuesday 2 January 2007, 12.26CET

Parma put up for auction

Parma FC, who have been in administration since 2004, are to be put up for sale in a sealed-bid auction with the hope of securing the club's future.

Parma FC, who have been in administration since 2004, will be put up for sale in a sealed-bid auction this month.

Auction process
Parma director Roberto Cappelli explained the selling procedure to local newspaper Gazzetta di Parma. "We have received several offers for the club and decided to make these offers concrete in a process which would allow the new investors to move in the January transfer window to reinforce the team," he said. "All the interested parties will have access to the books from 8 January and within a few days they will be asked to place their offer in a closed envelope. Then we will study all the offers and see if there is a buyer who can guarantee a good future for Parma for at least the next two years."

Administration
Parma, who will face SC Braga in the UEFA Cup Round of 32 but are second from bottom in Serie A with 12 points from 18 games, went into administration in 2004 after their owners, Parmalat, went bankrupt and were renamed from Parma AC. In their old guise, they won two UEFA Cups plus the UEFA Cup Winners' Cup and UEFA Super Cup in the 1990s. Enrico Bondi was recently appointed as the club's new president

 
Last updated: 02/01/07 12.55CET

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