Players and staff have gone unpaid for months and Parma have been sold twice this season, with several of their matches having to be postponed.
But Serie A clubs have agreed to help Parma, and the Italian Football Federation will pay the team €5 million so they can finish the season.
An FIGC Media tweet on Friday read: "With #LegaSerie A, footballers and [the] city, put the conditions to continue the championship in #Parma."
In a statement, Serie A president Maurizio Beretta confirmed the league would help Parma.
"The resolution was adopted confirming the willingness of the league to help Parma continue in the championship," he said.
"If the club is passed over to a bankruptcy administrator on March 19, we shall intervene. We'll decide how exactly to intervene along with the administrator."
Sixteen out of the 20 clubs in Serie A reportedly voted for Parma receiving emergency funding.
Parma are 13 points from safety ahead of Sunday's clash at home to fellow strugglers Atalanta.
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