Parma "could go bust on Dec 31" (1 Viewer)

Zlatan

Senior Member
Jun 9, 2003
23,032
#1
Football Italia


Parma "could go bust on Dec 31"
Saturday 27 December, 2003

Parma director general Patrick Nebiolo has confirmed that the club could go into liquidation on Dec 31 2003.

“The club’s losses must be covered and the Capital increased during the shareholders’ meeting,” announced Nebiolo on ‘Radio Radio’.

“Parmalat are unable to introduce fresh funds, but they can convert credits into Capital. If that doesn’t happen, then the alternative is liquidation.”

This is a crisis point for the Gialloblu, as the football club risks going under along with majority shareholders Parmalat.

Nicknamed the ‘Italian Enron’, the dairy giants were today declared insolvent after £2.6bn went missing from their bank accounts.

President Stefano Tanzi and patron Calisto Tanzi are under investigation for fraud as one of the giants of Italian industry crumble.

“The Tanzi family remains a central focus for us,” continued the director general, “so obviously the players felt the effects of this disaster.”

“The city has already shown it is close to this club and there could be new investments from local banks and businessmen, but this can only be discussed after the increase in Capital.”

AC Parma are currently running at a loss above the legal limit for football clubs in Serie A and must take drastic action in the next shareholders’ meeting on Dec 31.

After Fiorentina were declared bankrupt and Lazio almost went down along with majority shareholders Cirio in a similar situation, we could see another Italian giant collapse due to financial problems.

The situation could deteriorate further, as Bologna President Giuseppe Gazzoni Frascara has announced plans to sue clubs with unbalanced books.

“Anyone can make a winning team if they don’t pay their players,” snapped the Rossoblu chief.

If the Federal Court accepts this appeal, then clubs who are running at a marked loss – such as Roma and Lazio – could be docked points.


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You know what this means, right? Free players \o/
 

Slagathor

Bedpan racing champion
Jul 25, 2001
22,708
#3
I hate how crises in major businesses always immediately and directly influence popular football clubs!

It would be a disaster for Parma and the region if the club disappeared and it would be a sad story to see one of Italy's finest football stadiums standing there un-used! I've been there for the Coppa Final and I loved the whole atmosphere surrounding the club Parma. In the stadium, around it and in the entire city itself.

I hope a solution is found soon!
 

Dj Juve

Senior Member
Jul 12, 2002
9,597
#4
damn, where are we gonna get cheap world-class players now? Florentina...now Parma? damn.





seriously, i really really hope they survive this. But i really wonder, how did they lose so much money? they didnt spent much on transfers lately. Dont tell me it's the same case as Viola's
 

Slagathor

Bedpan racing champion
Jul 25, 2001
22,708
#5
Parmalat, their main sponsor and one of Italy's greatest companies is on the verge of bankrupcy as a corporate scandal shocked the Italian markets last Tuesday.
 

Ali

Conditioned
Contributor
Jul 15, 2002
15,581
#7
Not Parma. I have always admired how Parma worked .... They have produced a lot of talent & it's a shame that they have to go through this.
 

Dj Juve

Senior Member
Jul 12, 2002
9,597
#8
this is sad for Juve transfer future almost more than anything :frown:



plus i always kinda liked parma's transfer policies
 
Aug 1, 2003
17,678
#9
yes parma is a good club, its the kind of good club which you can't hate coz they're... well, good.

I hope they could sort it out. their troubles must be big, nakata has already fled off to bologna right?
 

Desmond

Senior Member
Jul 12, 2002
8,938
#11
++ [ originally posted by Paolo_Montero ] ++
This is sad for italian football more than anything :frown:

plus I always kinda liked parma
++ [ originally posted by -CSD- ] ++
this is sad for Juve transfer future almost more than anything :frown:



plus i always kinda liked parma's transfer policies
:LOL::D:howler:




but seriously though,the amount of money concerned is really huge.even if they manage to stay afloat,they'll lose their best players.another one of italy's seven sisters is drowning:frown:
 

*aca*

Senior Member
Jul 15, 2002
869
#14
All that Parmalat has to do is to "forgive" the debt Parma has towards it's owners. Probably, Tanzi's investment in the team is considered a "shareholders" loan, which is a normal practice. IF Parmalat's administration decides that they need arma to give this money back, Parma is going down.

Funny thing is that Inter's and Milan's books are probably aranged in the same way. So without Moratti and Berlu, they would be bust too....
 

The Pado

Filthy Gobbo
Jul 12, 2002
9,939
#18
We should not even consider this an opportunity to buy players. This is terrible news for all of Italian football. Hopefully, clubs will see this as a wake up call, to get away form huge corporate ownership and, in turn, dependency. Parmalat seemed like one of the world's great companies. Then, all at once, billions of euros are missing.

Parmalat owns 98% of Parma AC shares, so the football club is in the same situation as Lazio, but not as Fiorentina. It might not mean the end of the club, but it will spell the end of Parma as a scudetto contender. Just a few years ago there were 7 clubs capable of being Italian Champions, now there are only 4. This is a disturbing trend. If it continues, Serie A will no longer have any intrigue, suspense, or fun to it.
 

Layce Erayce

Senior Member
Aug 11, 2002
9,116
#20
++ [ originally posted by Padovano ] ++
We should not even consider this an opportunity to buy players. This is terrible news for all of Italian football. Hopefully, clubs will see this as a wake up call, to get away form huge corporate ownership and, in turn, dependency. Parmalat seemed like one of the world's great companies. Then, all at once, billions of euros are missing.

Parmalat owns 98% of Parma AC shares, so the football club is in the same situation as Lazio, but not as Fiorentina. It might not mean the end of the club, but it will spell the end of Parma as a scudetto contender. Just a few years ago there were 7 clubs capable of being Italian Champions, now there are only 4. This is a disturbing trend. If it continues, Serie A will no longer have any intrigue, suspense, or fun to it.
We should not even consider this an opportunity to buy players. This is terrible news for all of Italian football. Hopefully, clubs will see this as a wake up call, to get away form huge corporate ownership and, in turn, dependency. Parmalat seemed like one of the world's great companies. Then, all at once, billions of euros are missing.

Parmalat owns 98% of Parma AC shares, so the football club is in the same situation as Lazio, but not as Fiorentina. It might not mean the end of the club, but it will spell the end of Parma as a scudetto contender. Just a few years ago there were 7 clubs capable of being Italian Champions, now there are only 4. This is a disturbing trend. If it continues, Serie A will no longer have any intrigue, suspense, or fun to it.

I agree with you enough to repeat what you said word for word. In all seriousness.
 

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