Serie A: league approves €5m emergency loan to Parma FC to allow club to finish the 2014-15 season

The clubs of the Serie A TIM have voted to give Parma FC an emergency loan of €5m to help the club finish the 2014-15 Serie A season, the league announced on 06/03/2015. 15 clubs voted in favour of this emergency measure, while three abstained from voting (AS Roma, SSC Napoli, and US Sassuolo Calcio), and AC Cesena voted against the plan.

Earlier on Friday 06/03/2015, Italian tax authorities confiscated files pertaining to Parma FC from the club's headquarters, as well as from the Lega Serie A (the Italian Professional Football League) and FIGC (Italian Football Federation) offices.

Parma FC posted €55.4m in operating losses at the end of the 2013-14 season, and the total debt of the club has multiplied by 12.2 in the space of seven years, from €16.1m at the end of the 2006-07 season to €197.4m at the end of 2013-14. The club has a bankruptcy hearing scheduled in court on 19/03/2015.

• The regulations of the emergency loan from the league require Parma FC to play at least its next two Serie A matches before the bankruptcy hearing on 19/03/2015.
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