article_snippet: Italy's top football teams voted to give Parma a 5million euro (£3.7m) emergency fund to help the club finish the season.
article_snippet: Parma have an illustrious history, however the club are in dire straits financially and could go out of business .
article_snippet: Closed for robbery’ Parma have been sold twice this season, players have not been paid in months and a bankruptcy hearing has been set for March 19.
article_snippet: After the league decision in Milan, Italian football federation president Carlo Tavecchio was traveling to Parma to formally present the plan to the squad's players.
article_snippet: the plan requires Parma to play the plan next two matches before a bankruptcy hearing.
article_snippet: Parma captain Alessandro Lucarelli and Italian football federation president Carlo Tavecchio club team-mates have not been paid since July .
article_snippet: Earlier, Italy's tax police confiscated records related to Parma from club headquarters and the league and federation offices.
article_snippet: Also, former Parma president Tommaso Ghirardi and former general director Pietro Leonardi were placed under investigation by judicial authorities for suspected bankruptcy fraud.
article_snippet: Last month, Giampietro Manenti took over as Parma's new owner and president from the Russian-Cypriot conglomerate which had taken control in December from Ghirardi.
article_snippet: Hernan Crespo, now a youth team coach at the Italian club, used to play for Hernan Crespo, now a youth team coach at the Italian club and Giampietro Manenti fears for the future .