Former baseball player Mike Piazza was linked with a takeover of the club but he withdrew from talks on Monday, meaning their hopes of avoiding demotion to the fourth tier were ended.
'The administrators of Parma FC, Dr. Angelo Anedda and Dr. Alberto Guion, communicated that as of 14.00 today, June 22, 2015, no offers have been received for the sporting rights of the club,' Parma said in a statement on their website Monday.They were declared bankrupt in March with debts of £278.5million.
'In the coming hours the administrators will meet with the creditors' committee and the bankruptcy judge Dr Pietro Rogato to make the necessary arrangements for the bankruptcy proceedings.'
They finished bottom of Serie A last season, with 19 points from 38 games.
Credit: Jack Bezants/SportsMail
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