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10 Clubs That Went Bankrupt

With FC Barcelona potentially facing bankruptcy, here are 10 famous football clubs that went through major financial issues, including Manchester United, who were once almost liquidated.

Click through the gallery above to see 10 famous clubs that experienced bankruptcy, according to various reports.

The Catalan club appears to be in deep economic trouble given all that has gone on in 2020, with many blaming former president Josep Maria Bartomeu for getting the Blaugrana into its current crisis.

A report this weekend suggested that Barcelona might be forced to file for bankruptcy if things do not change fast, with the club beginning talks with staff and players over pay potential pay cuts that could solve many of their problems.

Former Serie A giants Parma, once home to the likes of Gianluigi Buffon, Lilian Thuram, Fabio Cannavaro, Juan Sebastian Veron and Hernan Crespo, ran out of money in 2004 after a sponsor got involved in a fraud scandal.

After many ups and mainly downs over the coming years, they eventually became bankrupt in 2015. Then, Parma, refounded under the new name of Parma Calcio 1913, began their semi-professional journey in Serie D and enjoyed promotion after promotion, securing a place back in the country's top division for the 2018/19 campaign.

That season, Parma finished 14th in Serie A, followed up by an 11th-place finish in the 2019/20 campaign. So far this season, the two-time UEFA Cup winners are 16th in the league table, two points above the relegation zone.

In 1902, United, then known as Newton Heath LYR Football Club, faced liquidation, but were rescued by a £2 000 (R41 805) investment from four businessmen who, three months after getting involved with the club, changed its name to Manchester United.

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Chelsea faced a similar problem in the 1980s, as did former Premier League club Portsmouth in 2010, when they were placed into administration after accumulating debts of about £135 million (R2.8 billion). To see some more clubs who experienced huge economic strife, click through the gallery above!

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