Parma boss Roberto Donadoni has slammed the club's management.

Parma was declared bankrupt on Thursday and placed under administration.

"The situation is tragi-comic," said Coach Donadoni in his Press conference.

"After hearing for months that it was impossible for this to happen, we realise just how many lies were told to us. Now we must try to salvage something and the arrival of the administrators is a start.

"I find it difficult to regenerate the side in a sporting sense, but we will try to give our all to the end. I have tried and am still trying to do my duty. I owed it to the lads.

"As a person, this whole affair has been deeply disappointing. Perhaps I am someone who believes in a utopia, but it's extremely irritating to acknowledge the world around us is made up of opportunities who thought about only their own personal interests.

"This hurt me deeply, it disgusted me and sapped me of energy. In any case, we must stay strong, go forward and fight this situation to ensure it never happens again.

"In all of this there are those who are guilty, but also those who are paying the consequences of damages created by people who are unworthy of being in the football or civilised world."