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"&lt;p&gt;&lt;/p&gt;&lt;p&gt;Italian soccer club Parma has been declared bankrupt by the country's courts,&amp;nbsp;according to the the Associated Press.\r\n\r\n&lt;/p&gt;&lt;p&gt;The AP reports that that the bankruptcy hearing only lasted ten minutes.\r\n\r\n&lt;/p&gt;&lt;p&gt;&lt;strong&gt;\u2022 BIRD:&amp;nbsp;Messi, Tevez lift Barcelona, Juventus to quarterfinals&lt;/strong&gt;\r\n\r\n&lt;/p&gt;&lt;p&gt;The club is said to have about \u20AC100 million (approximately $110 million) in debt, according to the AP. Italian newspaper,&lt;em&gt;&amp;nbsp;La Repubblica&lt;/em&gt;&amp;nbsp;is reporting that number could be as high as \u20AC218 million (approximately $230 million). On Wednesday, the owner of the club, Giampietro Manenti&amp;nbsp;was arrested on money laundering charges\r\n\r\n&lt;/p&gt;&lt;p&gt;Parma is currently last in the Serie A standings.\r\n\r\n&lt;/p&gt;&lt;p&gt;&lt;/p&gt;&lt;p&gt;\r\n\r\n&lt;/p&gt;&lt;p&gt;&lt;i&gt;- Erick Fernandez&lt;/i&gt;\r\n&lt;/p&gt;"^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.si.com/planet-futbol/2015/03/19/soccer-club-parma-declared-bankrupt>