Italian Club Parma Given Permission To Negotiate For Private Sale At Hearing

Relegated Parma has "been given permission to negotiate for a private sale of the club at a hearing" on Wednesday, according to FOOTBALL ITALIA. A final auction for the club passed Tuesday without a bidder, but the bankruptcy judge "agreed that the Emilian side can enter into talks for a private sale." Potential buyers "have been given until Friday" to pay a €900,000 ($1M) deposit to enter into negotiations. Any new owner "must pay off the club’s sporting debt for the Crociati to be allowed to register for Serie B next season." Potential buyers include cinema tycoon Giuseppe Corrado, former MLB player Mike Piazza and "a third group that includes businessman Andrea Meli" (FOOTBALL ITALIA, 6/10). BEIN SPORTS reported the club -- which was relegated from Serie A this season -- was "put up for sale in April" with a value of €20M ($22M), but no valid bids were received (BEIN SPORTS, 6/10).