Sanz asks for more time!

[Morrison]

http://www.channel4.com/sport/footba...ia/jan17f.html

Lorenzo Sanz has asked for yet more time to stump up the funds for his protracted purchase of Parma Football Club.

The former Real Madrid President submitted an initial instalment of £5m for the Emilian club last year and missed yesterday’s deadline to pay off the remaining £13.5m to complete the deal.

However, Sanz insists that the delay is not his fault as he is awaiting the delayed payment of funds that are in turn owed to him.

"Yesterday the transfer of shares of Parma Football Club plc to Inversiones Renfisa S.L. did not take place," read a statement issued by the Ducali.

"The company concerned declared itself unable to pay the amount owed within the agreed terms of the contract.

"Inversiones Renfisa S.L. have, however, requested to pay the amount owed over the next few days," continued the statement.

"Parma Football Club is reserving the right to consider the matter before making any decision."

The continued delay comes as a great source of frustration to Coach Mario Beretta, who currently has no funds with which to make reinforcements to his struggling Serie A side.

Indeed, the longer the business continues the less likely it is that he will receive any further money before the transfer market window closes at the end of the month.

[azzurri]

they got alot of money in the last few seasons with the sale of adriano and gila, surely the money would have helped them.

[meccano]

It goes to fund parmalats debts none of it see's the club at all
besides that only counts for 65 million :skull:

I just can't take much more of it really...the administration won't let go untill they suck Parma dry

[Jager]

Sanz 'drops' Parma takeover bid Friday 20 January, 2006

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Former Real Madrid patron Lorenzo Sanz’s protracted takeover of Parma has collapsed, admitted the club this evening.

“At this point, I’m having serious doubts over whether Sanz will arrive at all,” said President Guido Angiolini.


“The deadline was January 15 and I don’t think any extensions have been granted. As of today, we can open the door to new negotiations with anyone interested in taking over the club. We’ve had a few phone conversations with other parties, even if we haven’t had any concrete offers yet.”


The Spanish impresario had announced the takeover bid in November but, after paying a £5.8m deposit, has repeatedly delayed the rest of the total £18.8m and today the initial contract expired.


Local businessman Gaetano Valenza has publicly stated he will head a group to buy out Parma and return them to their former glory, so talks with him could now begin.


“It has become clear that the current administrators don’t want me,” insisted Valenza. “I just want them to clarify the situation for the good of the club. Sanz has not respected the terms of the initial agreement.”


Meanwhile, today Parma loaned out two of their young talents. Tonino Sorrentino has been handed over to Serie C1 outfit Grosseto and Zlatko Dedic joined Serie B club Cremonese.

http://www.channel4.com/sport/footba...ia/jan20j.html

[meccano]

Well according to Sanz junior he sent a sms to tvparma saying Sanz now owns the club :wallbang: