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Administrators announce Parma bid not valid

Administrators acting on behalf of Parma have confirmed the unnamed bid made for the club on Tuesday did not meet auction rules.

After weeks of uncertainty over the club’s future there appeared to be some light at the end of the tunnel with the announcement an offer had been made, however that has since been declared void.

Parma were originally put up for sale in April with a value of $20million, however that figure has been reduced on a number of occasions due to a lack of bids.

News of Tuesday’s offer gave some hope following a disappointing campaign that saw their relegation to Serie B, but the invalidity of the bid has plunged them back into uncertainty.

“The envelope received at noon today does not contain an offer to buy Parma FC,” the club confirmed on its official website.

“The communication which was received is an expression of interest, and so does not comply with the provisions of the auction.

“Such expressions of interest, together with other communications received by the administrators this morning, will be submitted to the creditor’s committee and the bankruptcy judge tomorrow, so appropriate action can be taken.”

Tue 9 Jun, 2015
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