Parma are set to be sold to a Russian-Cypriot consortium, reports, www.sportspromedia.com/. The group will be expected to complete a takeover of the Serie A side, currently bottom of Italy's top tier after 12 defeats in 14 games, by the end of the week for a cut-price 7 million (US$8.6 million).
The deal comes with Parma in dire financial trouble and awaiting a points penalty for failing to pay wages and taxes. The sale of the club was initially planned for 10th November but an unexpected delay triggered the failure to make those payments.
"We were informed this morning directly by the president that the talks had intensified," said Parma managing director Pietro Leonardi, speaking on Sunday.
"President [Tomasso] Ghirardi has been dealing with this deal personally, he's been working on it for a while and told us that things have speeded up in the past few hours.
