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

OP

Zlatan

Senior Member
Jun 9, 2003
23,049
  • Thread Starter
  • Thread Starter #24
    Yeah, but if THEY do, it means the players are CUP TIED!

    ++ [ originally posted by Fliakis ] ++


    every player that played for any club in any uefa competition, even intertoto cup, is cup tied.
    Yeah I know, I just wasnt sure if they do play in Cup UEFA or not
     

    Slagathor

    Bedpan racing champion
    Jul 25, 2001
    22,708
    #25
    ++ [ originally posted by -Z- ] ++
    Yeah, but if THEY do, it means the players are CUP TIED!
    That rule still exists? I thought the only rule remaing today was the one where a player can't play in the same European competition with two different teams. I.e. if Zlatan Ibrahimovic moved to Juventus right now he couldn't play in the CL for us because he has already played with Ajax this season.
     

    aressandro10

    Senior Member
    Jul 30, 2003
    2,884
    #27
    ++ [ originally posted by Matto ] ++


    That rule still exists? I thought the only rule remaing today was the one where a player can't play in the same European competition with two different teams. I.e. if Zlatan Ibrahimovic moved to Juventus right now he couldn't play in the CL for us because he has already played with Ajax this season.

    aaa... the thing is Intertoto , UEFA Cup and the Champions League are somewhat is the same competition.. well.. at least they are connected..

    The winner of Intertoto will play in the UEFA Cup... The CL Qualifying losers also play in the UEFA Cup.. also the Club that finish 3rd in Cl group stage...

    so theorically , one player can win the Intertoto Cup with one club in the summer, move to a big CL club, finish 3rd and then meet his old club in the UEFA Cup... that idea is kinda strange as that player also fighting with that club earlier in the season...
     

    A_LAcki

    Senior Member
    Dec 23, 2002
    3,554
    #28
    Lets get Ferrari, and Bonera!!!!!!!!! Yeah, this would be soooo great! My back-line would be----->

    Bonera---Thuram---Ferarri---Zambrotta

    or

    Thuram---Legrottaglie---Ferarri---Zambrotta

    We would rock!!!!!!!!!
     

    Slagathor

    Bedpan racing champion
    Jul 25, 2001
    22,708
    #29
    ++ [ originally posted by aressandro10 ] ++
    aaa... the thing is Intertoto , UEFA Cup and the Champions League are somewhat is the same competition.. well.. at least they are connected..

    The winner of Intertoto will play in the UEFA Cup... The CL Qualifying losers also play in the UEFA Cup.. also the Club that finish 3rd in Cl group stage...

    so theorically , one player can win the Intertoto Cup with one club in the summer, move to a big CL club, finish 3rd and then meet his old club in the UEFA Cup... that idea is kinda strange as that player also fighting with that club earlier in the season...
    Aye like that then. Thanks for that!
     

    KB824

    Senior Member
    Sep 16, 2003
    31,539
    #31
    From what I've read, Parma's bankruptcy has been staved off for at least another week. However, it looks like they will have to sell their best players in order to survive the rest of the season.
     
    Aug 1, 2003
    17,684
    #32
    I heard taht Parmalat's owner or CEO or one of the big guys (not sure of his position) was a corrupt man and spent the money wrongly.

    I saw it on TV, BBC I think but I can't recall. Anyone can confirm this?
     

    Respaul

    Senior Member
    Jul 14, 2002
    4,734
    #34
    ++ [ originally posted by -Z- ] ++
    They say Tanzi stole 300 mil pounds for himself :eek:
    Tanzi admitted siphoning 500 milion euros (http://news.bbc.co.uk/1/hi/business/3355605.stm)
    I dont see alot wrong with what calisto did though, its his company... It looks more to me he falsified accounts to avoid taxes.
    I cant see him being charged with anymore than falsified accounts and tax fraud

    Tanzis actions arent what have bought parmalat down... Its confirmed that at least 4 Bilion euros has gone missing from the company. With some reports estimating 8 Bilion euros.
    Calisto's 500 milion is but a drop in the ocean


    http://news.bbc.co.uk/1/hi/business/3358925.stm
     

    The Pado

    Filthy Gobbo
    Jul 12, 2002
    9,939
    #35
    Yes, Tanzi founded the company, but when you a take company public you cannot steal from it. If Tanzi admits to stealing nearly one billion U.S. $, then all the little people (like me) who bought Paramalat shares for $10 per share have lost all of money. The stock now trades at 11 cents per share.

    I believed in Tanzi, and I hope that he did not commit such a crime, but it looks bad for the company and its investors.
     

    Respaul

    Senior Member
    Jul 14, 2002
    4,734
    #37
    ++ [ originally posted by Padovano ] ++
    Yes, Tanzi founded the company, but when you a take company public you cannot steal from it. If Tanzi admits to stealing nearly one billion U.S. $, then all the little people (like me) who bought Paramalat shares for $10 per share have lost all of money. The stock now trades at 11 cents per share.
    I know how it effects people... Personally ive lost about £8k through this... Luckily for me i got shot of many shares a few months ago, otherwise i would have lost alot

    At this point there is no proof that calisto 'stole' the money.
    It has been shown he moved it around to places it shouldnt really have been.
    It has also been shown that none of it has gone into his pocket, rather to other parts of the company.
    Personally i beleive what he says he was doing with it.
    Tanzi imo is essentially an honourable man.

    Plus as i said the money tanzi moved is not enough to effect the shares etc... its the other 7.5 billion euros that has done that

    A hard to find 500mil would have done little to no damage to parmalat
     

    The Pado

    Filthy Gobbo
    Jul 12, 2002
    9,939
    #38
    ++ [ originally posted by -Z- ] ++
    How much did you lose mate, if you dont mind saying?
    Not that much. I looked like a genius last year buting Parmalat rather than Cirio, but now the shoe is on the other foot. I have 200 shares, but this company still could come back, I hope.
     

    aressandro10

    Senior Member
    Jul 30, 2003
    2,884
    #39
    Parma buy time for January sales Wednesday 31 December, 2003

    --------------------------------------------------------------------------------

    Crisis-hit Parma have staved off bankruptcy for another week by delaying today’s meeting, but this makes mass sales even more likely.


    The club was set to hold a shareholders’ meeting this afternoon in which the Capital would be raised in order to avoid liquidation.


    Fresh funds cannot come from the majority shareholders Parmalat, as the dairy giants are at the centre of Italy’s biggest financial fraud scandal.


    President Calisto Tanzi is under arrest in a Milan prison and has reportedly admitted to taking £330m from the Parmalat bank accounts for himself, although the whereabouts of this sum is still unclear.


    Tanzi’s creative accounting means that the estimated figure of Parmalat’s debts are rising every day and are now thought to be in the region of £7bn.


    However, there is hope yet for AC Parma, as Parmalat are registered as owing the football club a total of £53m.


    If the authorities will accept this credit, then the Capital can be raised and the club can avoid bankruptcy for the time being.


    This will buy them enough time to sell off several stars in the January transfer window and bring in some ready cash.


    “From my meeting with Parmalat administrator Enrico Bondi,” revealed Gialloblu President Stefano Tanzi, “will emerge the decisions that involve AC Parma, its players and fans.”


    The side needs another £27m in order to continue playing football in Serie A until the end of the season.


    The imminent sale of Adriano will bring in approximately £18m of that sum, as Inter are ready to bring the Brazilian back now in order to stave off competition from Chelsea.


    “An agreement with the Nerazzurri does exist,” explained Tanzi, “and we must now decide whether to adjust it or confirm that deal.”


    It is still not enough to save the Tardini outfit, so Italian internationals Daniele Bonera and Marco Marchionni are on their way out.


    Bonera has long been a target for Juventus, while Milan are now showing interest in promising winger Marchionni.


    Goalkeeper Sebastien Frey can spark a bidding war between Chelsea and Bayern Munich, while Hidetoshi Nakata is days away from completing his move to Bologna.
    ....................................................................................................

    :(... :down:

    Be it Adriano or Frey...no star is worth more than the club survival...

    it would be like the end of a graduation ceremony where everyone hugs each other and then go on their separate ways...

    this article already touched me.. let alone any Parma fan...
     
    Aug 1, 2003
    17,684
    #40
    "Parmalat founder admits diverting funds"

    MILAN, Tues: The founder of the Italian food giant Parmalata, at the centre of a massive fraud scandal, has admitted misappropriating hundreds of millions of euros of company funds, one of his lawyers said yesterday.
    Calisto Tanzi, under arrest for suspected financial crimes at the insolvent dairy firm, made the admission during questioning at Milan's San Vittore prison, lawyer Fabio Belloni said.
    "He admitted diverting funds," Belloni said, adding that Tanzi said he had funnelled around 500 million euros away from Parmalat and into other companies, including Parmatour, a family-owned tourism company.
    Tanzi's shock admission came after authorities had accused him of embezzling more than 800 million euros from his food conglomerate over the past decade.
    A judicial source said the 65 yr old former Parmalat chief had also admitted falsifying company accounts.
    "He admitted misappropriation and falsification (of accounts), without knowing the arrangements that were entrusted to his officials," the source said.
    Tanzi resigned as Parmalat's chairman and chief executive two weeks ago amid one of Europe's biggest corporate scandals. He was arrested at the weekend and held in jail on suspicion of financial crimes at Italy's eighth biggest group, including fraud, false accounting and market rigging.
    Neither he nor any of the 20-odd others under investigation have been charged.
    As shockwaves from the case rippled around the globe, the US Securities and Exchange Commission announced it was filing a suit against Parmalat seeking substantial fines.
    In a complaint filed in federal court in NY, the SEC charged Parmalat with securities fraud, and accussed it of misleading bond investors in "one of the largest and most brazen corporate financial frauds in history".
    Separately, Cuba's only bulk food importer, Alimport, said yesterday that Parmalat's claim taht the Communist-run nation owes it tens of millions of dollars for powdered milk was false.
    In addition to the embezzlement charge, authorities have accused Tanzi of working with Parmalat executives and outside auditors to commit fraud and mask the company's financial woes, according to official documents obtained by Reuters.
    The accusations are contained in two documents that supported the decision by authorities to arrest Tanzi. One was written by two public prosecutors from Parma, near Parmalat's headquarters, and the other by a Milan judge.
    The six-page order issued on Saturday by the Parma magistrates said Tanzi had "diverted in his favour and to companies which are not part of the (Parmalat) group the sum of about 800 million euros."
    The judge's seven-page order said there had been a "constant drain of liquidity" in Tanzi's favour "for a total amount, between 1992 and 2003, of more than 800 million euros."
    ZThe judge said the misappropriation of funds had aggravated a financial crisis at the group, which he said now owed between 10 billion and 13 billion euros to bond-holders and banks. - Reuters

    (taken from New Straits Times)
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    waaah, Tanzi you evil bastard.
     

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