Bankrupt Parma fight survival by selling trophies to raise funds
Thursday 13 August 2015 20:30, UK
Italian club Parma are desperately battling for survival and are auctioning seven trophies to raise some much-needed funds.
The Gialloblu ended the 2014/2015 campaign bottom of Serie A after being deducted points on several occasions for their failure to pay players and staff and were declared bankrupt in March before entering administration pending the search for new investors.
With debts spiralling to over £143m and the club offered for sale for £14m in April, they failed to find a new owner and suffered a miserable drop to Serie D - the top tier of non-professional football in Italy.
They were then forced into reforming as Parma Calcio 1913 by the Italian Football Federation.
In a desperate move to avoid disappearing from the sport, the club revealed on Thursday they had opted to put seven pieces of silverware up for sale.
These trophies were: three Coppa Italias (1992, 1999 and 2002), Cup Winners’ Cup (1993), European Super Cup (1994), UEFA Cups (1995, 1999) and the Italian Super Cup (1999).
Bids need to be submitted by September 11, although UEFA regulations may halt the sale as "replica trophies awarded to winners of the competition must remain within the relevant club's control at all times and must not leave the club's country without UEFA's prior written consent".
Parma have never won the league title in Italy's top flight but won these seven trophies during their 1992-2002 heyday.
