Right Then: Who Wants a Football Club?
By: Martha | January 2nd, 2007
Since former owners Parmalat went bankrupt in 2004, Parma (then AC, now FC) has been in administration, run by a legally appointed board. The main positive of being in administration, I guess, is that the club continues to exist. The negative, however, is that, apart from advertising income, the funds for buying beer, new players, or a new ground are rather limited. So, in an effort to attract an Russian gas mogul of its own, the club is being put up for auction this month, and the biggest sucker winner will walk away with a passionate fanbase, strong tradition, and a whole lot of debt.
For the millionaires among you, the rules are as follows: All legitimately interested parties (meaning not those who walk up wearing a Parma kit and say “Dude, I totally have tons of money!”) will have access to the club’s books starting January 8, so they’ll know what they’re getting into. If the debuts don’t scare everyone off, Parma’s administrators will accept sealed bids of at least €27.5 million, and will evaluate the bidders for their ability to sustain the club for at least two years (they’re looking for survival, it appears, not a miracle). Though no date for the closing of the auction has been announced, it sounds like a sale will happen soon, if a suitable buyer is found.
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What a perfect situation for a guy like Mark Cuban. Throw some dough towards Italy (maybe a month’s beers sals from Mavs games) and hire Muddia to run the show.
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