Bankrupt Italian football club FC Parma will start life again in Italy’s fourth tier, the Serie D. Yesterday, the deadline for potential investors passed and as such, the club failed to comply with the financial requirements of the Serie B, where Parma would have played, if an investor could have been found.
This is the second time the club went bankrupt, after owning company Parmalat declared insolvency in 2004, forcing the club to be renamed to FC Parma (formerly known as AC Parma). The club had been back in Serie A since 2009 and had lost their relegation battle at the end of last season, although this no longer matters.
With two UEFA Cups, a UEFA Cup Winners’ Cup and a European Super Cup under their belt, Parma are classed as Italy’s fourth and Europe’s 15th club. Former players include Italian legend Gianfranco Zola and prolific Argentinian superstar Hernan Crespo.
It will be a long time before we see Parma anywhere near the Italian top flight, let alone Europe, but the club remains an integral part of European history books.