Italian Soccer Team Parma Declared Bankrupt

 

Italian soccer team Parma has declared bankruptcy weeks after other teams agreed to provide it with emergency financing.  The team is down to 9 points in the premier league, Serie A.  The club's debts are estimated at about €100 million ($108 million) and is still expected to play Torino this weekend. Parma's owner and president, Giampietro Manenti, was arrested and accused of being part of a failed hacker credit-card scam in Italy.

(Melanie Cohen) http://blogs.wsj.com/bankruptcy/2015/03/20/italian-soccer-team-parma-declared-bankrupt/ 

 

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