MILAN: Parma became the latest
Serie A
team to come under US ownership when they were taken over by the Krause Group on Friday, the club said in a statement following a deal signed in Milan.
The group bought a 90% stake in Parma who won three major European trophies during their heyday in the 1990s, were declared bankrupt in 2015 and returned to Serie A in 2018.
Nuovo Inizio, a group set up by local entrepreneurs which took over the club following its bankruptcy and relegation to the fourth tier of Italian football in 2015, will retain a 9% stake.
The remaining 1% will remain with Parma Partecipazioni Calcistiche, the company that brings together fans as shareholders.
The announcement comes one month after US billionaire Dan Friedkin agreed to take over AS Roma. Fiorentina and AC Milan are also under US ownership and Bologna was taken over by investors led by Canadian lawyer Joey Saputo in 2014.
Meanwhile, Serie A is in talks with private equity funds for an investment in a newly created media rights business unit.
"The acquisition of
Parma Calcio 1913
is the fulfilment of a long-held dream," said Krause Group CEO Kyle Krause. "Parma Calcio 1913 are fighters and bouncing back from Serie D with three consecutive promotions in three years is a testament to their resilience."
Based in Iowa, the group owns convenience stores, real estate and two Italian wineries plus Des Moines Menace, a club which plays in the fourth tier of the US soccer pyramid.
Parma, founded in 1913, have never won Serie A but became well-known worldwide in the 1990s with a team which included players such as Argentine
Hernan Crespo
and Colombian Faustino Asprilla.
They won the old UEFA Cup twice, the European Cup Winners' Cup once, the
Coppa Italia
three times and finished runners-up in Serie A.
Parma were declared bankrupt in 2015 after a chaotic season which saw them change hands twice, relegated to the fourth tier but returned to Serie A in 2018 after winning three successive promotions.
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