article_snippet: Rooted at the bottom of Italy's top flight, Parma has debts of approximately $100 million and faces a looming financial collapse -- barring a miracle ownership rescue.
article_snippet: Last season Parma finished sixth in Serie A, only to be barred from taking part in European football's second tier competition -- the Europa League -- over an income tax bill.
article_snippet: Between 1992 and 2002 Parma won two UEFA Cups, the 1992 European Cup Winners' Cup and three Italian Cups in a successful spell between 1992 and 2002.
article_snippet: In 1997, led by current Real Madrid coach Carlo Ancelotti and with the caliber of players like Gianfranco Zola, Faustino Asprilla and Hernan Crespo, Parma finished runners-up in Serie A.
article_snippet: "Look at the team our had," said Angelo Manfredini, president of the Parma supporters club, referring to those halycon days, as current Real Madrid coach Carlo Ancelotti rattled off other players including Melli, Fabio Cannavaro and longtime Italy captain and goalkeeper Gianluigi Buffon, who now plays for Juventus.
article_snippet: Parma's current players're so fed up Parma's current players've threatened to go on strike -- that is if the games are allowed proceed in the first place, with two of Parma's recent fixtures having been called off given the club's problems.
article_snippet: Parma was once owned by the world's leading dairy company, Parmalat Spa, which collapsed under financial fraud in 2003.
article_snippet: Their next scheduled match is a home game on March 22 against Torino, but Melli is more concerned about what the future holds in store for Parma rather than the next 90 minutes.
article_snippet: Only in this way can Parma be reborn like a Phoenix.
highlights_snippet: Parma has changed hands twice in past year, administration likely .
  