Parma president steps down
Friday, January 9, 2004
Article summary
Stefano Tanzi will resign from his post as Parma AC president on 14 January, the club has announced.
Article body
Stefano Tanzi will resign from his post as Parma AC president on 14 January, the club announced after a special shareholders' meeting on Friday.
Financial problems
Parma, who have debts estimated at €77m, are in emergency administration following the collapse of Italian food company Parmalat, which owns 98.7 per cent of the club. Tanzi, son of the now-jailed Parmalat founder Callisto Tanzi, has stepped down after a period of ownership by the Tanzi family which saw the club win the UEFA Cup in 1994/95 and 1998/99.
Fresh funds wanted
It is not known who his successor as president will be, but the club are now to seek fresh funds and may decide to sell several players. The club can be sold because it was not one of Parmalat's strategic assets. Parma lie sixth in Serie A and return to UEFA Cup action against Turkish side Gençlerbirligi SK in the third round on 26 February and 3 March.