After surviving the Parmalat scandal, Serie A soccer club Parma is to be auctioned off to the highest bidder.
In the 1990s the star-studded outfit was one of the 'Seven Sisters' of top Italian clubs, when it won two UEFA Cups and a European Cup Winners' Cup under the ownership of disgraced Parmalat food magnate Calisto Tanzi.
However, the multi-billion-euro hole found in the parent company's accounts in 2003 drastically downsized the club's ambitions, as government-appointed management sold top players to keep it afloat.
Parma has managed to maintain its top-flight status though, unlike other big-name clubs to hit rough financial waters like Napoli and Fiorentina.
"The process of putting the club on a sound financial footing is complete," Roberto Cappelli, the club director in charge of the sale, explained to local daily Gazzetta di Parma.
"We are more-or-less breaking even".
Cappelli said the terms of the sealed-bid auction will be announced on Wednesday.
Parma is currently second from bottom in Serie A, although it has reached the knock-out stage of the UEFA Cup.
In 2005 administrators agreed to sell the club to former Real Madrid chairman Lorenzo Sanz.
Sanz subsequently backed out, losing a substantial down-payment.
The auction is not expected to stop the club looking for players in the January transfer window to boost its fight to avoid relegation.
Targets include Chievo Verona defender Andrea Mantovani and Atalanta striker Nicola Ventola.
In other transfer news, AS Roma said they will deposit Italian forward Francesco Tavano's loan move from Valencia when the transfer window officially opens Thursday.
Tavano scored 19 goals for Serie A minnows Empoli last season, but he has failed to make an impression at Valencia since moving to Spain in the summer.
Roma is also seeking to extend the contracts of defenders Cristian Chivu and Philippe Mexes in order to fend off potential moves for them from Real Madrid.
Striker Vincenzo Montella, meanwhile, is expected to leave for English side Fulham shortly.
Reports in the Spanish press that Real Madrid have no intention of renewing David Beckham's contract will fuel speculation here that the former England captain may join Inter Milan.
AC Milan is seeking to strengthen its aging defence with Lazio's Italy right-back Massimo Oddo.
However, Lazio president Claudio Lotito reportedly wants to wait until after January 21 to complete the transfer, as he would hate to see his captain playing for the opposition when the two sides meet that day.
According to the Italian sports press, Milan are willing to give Lazio six million euros plus midfielder Pasquale Foggia - who is already at Lazio on loan - to land Oddo's services.
Milan has bought 22-year-old Argentine Leandro Grimi from Racing Avellaneda for the other side of its back-line.
The club is also said to be interested in Real Madrid's troubled Italian striker Antonio Cassano, who is reportedly out of favour with coach Fabio Capello.
However, Milan is wary of approaching Real for the player, the press says, because the Spanish side may press to have Brazil star Kaka in return.
