Italian Serie A club Parma may not make it to the end of the current 2014/15 season as there’s a good chance it’s going to go bankrupt before then. The league has decided that if the team does have to drop out of the league then all of its remaining contests will be awarded to their opponents as 3-0 victories. Parma currently sits in the basement of the 20-team league with just 10 points and their home match against Udinese on Sunday, Feb. 22 was postponed.  The franchise is in serious financial trouble and couldn’t afford to pay the security staff and stewards for the match.

According to former Argentine international striker Hernan Crespo, who is now the side’s youth coach, the club doesn’t have enough money to pay the electricity bills at their training ground and can’t use the showers there. There were reports out of Italy on Feb. 21 which said the fate of Parma has been sealed already and the club has been officially dissolved. However, those reports have yet to be confirmed. But with their game against Udinese being postponed the club obviously needs a cash infusion from somewhere or it looks like their season and perhaps their existence will be over.

The Serie A said Parma’s financial woes weren’t apparent during the first half of the 2014/15 campaign, so all of the team’s results up until now will remain intact. However, any of their games that aren’t played from now until the end of the season will be forfeited as 3-0 losses. The team is scheduled to play Genoa on the 1st of March and then Atalanta a week later. The situation should then become clearer shortly after as the club has a bankruptcy hearing scheduled for March 19. Their fate could be officially sealed on this day.