Parma are set to drop from Serie A into Italy's amateur leaguesParma are set to drop into the amateur leagues after administrators received no takeover offers prior to a Monday lunchtime deadline.Parma ended a nightmarish 2014/2015 campaign bottom of the Serie A table having been deducted points on several occasions for the club's failure to pay players and staff.
They were declared bankrupt in March and entered administration pending the search for investors to take over the club and pay off their debts.
Despite automatically dropping into Serie B - Italy's second division - the club's failure to find a buyer mean they are set to drop into Serie D, the top tier of non-professional football in Italy.
American-Italian and former Major League Baseball player Mike Piazza and Italian entrepreneur
Giuseppe Corrado were reported to be heading separate takeover bids in recent days.
But Corrado walked away from talks on Sunday night, and on Monday morning La Gazzetta dello Sport reported that Piazza had also ended his interest in buying the club.
Parma have never won the league title in Italy's top flight but during their 1992-2002 heyday claimed seven trophies including two UEFA Cups, three Italian Cups, a European Super Cup and the Cup Winners' Cup.
"It is with great sadness and regret that I have to announce the end of talks to purchase Parma FC," said Piazza.
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