With the future of Parma appearing increasingly perilous, a number of Hornets fans contacted the Watford Observer with concerns regarding how potential liquidation would affect the loan agreements of Daniel Tozser and Gianni Munari.

The answer when it comes to their immediate futures, as we understand it, is that it wouldn’t. That is because the two midfielders moved to Vicarage Road on international loans, which means the players have a direct contract with Watford; a contractual agreement that cannot be broken regardless of what happens at the parent club.

It was reported that Parma have more than 200 contracted players but Tozser is a prime example of how that figure, even if true, is a little misleading.

Tozser signed for the cash-strapped club in the summer on a two-year contract but it was only as a way of smoothing negotiations between Watford and his former side Genoa, with Parma then believed to receive favourable treatment from Udinese, who are controlled by Giampoalo Pozzo, the father of Hornets owner Gino. Tozser immediately joined the Golden Boys on a two-year loan deal in the summer, which covered the whole of his Parma contract, and the Championship team then have the option of a third year directly with the player. Tozser has never played for Parma and almost certainly never will. (Read more on the Tozser deal here)

Watford refused to comment on whether there was the provision to sign Munari and Tozser permanently now but for the reasons stated above they do not need to.

As for Parma, time appears to be running out to pull themselves out of their current financial situation.

The club are not yet in liquidation, despite reports to the contrary, but they do face a bankruptcy hearing on March 19.

Last week the Italian equivalent of the Inland Revenue seized several of Parma’s club vehicles in relation to their unpaid tax bill.

Nobody at the side has been paid since July, including the players who briefly considered taking legal action against the club last week.

Their weekend league game against Udinese was cancelled as I Crociati couldn’t afford to pay security staff or stewards. They were only just able to pay for the electricity to use the floodlights.

However, Parma president Giampietro Manenti has said that their game at Genoa this Sunday will go ahead.