US-based Krause Group takes control of Parma soccer club
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 18/09/2020 (2158 days ago), so information in it may no longer be current.
PARMA, Italy – Parma became the latest Serie A team with foreign ownership Friday when the U.S.-based Krause Group purchased a 90% stake in the club.
“The acquisition of Parma Calcio 1913 is the fulfilment of a long-held dream,” said Kyle Krause, the chairman and CEO of the Krause Group. “My family and I have a deep-rooted, intergenerational passion for both football and our ancestral home of Italy.”
In Italy’s top tier, Roma and AC Milan also have American ownership, Inter Milan is run by the Chinese-based Suning Group, Fiorentina is led by an Italian-American and Bologna has a Canadian owner.
The Iowa-based Krause Group is “the parent company for a diverse set of businesses that include convenience retail, logistics, Italian wineries and hospitality, real estate, agriculture, and soccer clubs,” according to the company’s website.
Parma, a two-time UEFA Cup champion in the 1990s, fell into financial trouble in recent years and had a series of ownership changes.
The team was dismantled in 2015 and had to restart from Serie D. Parma returned to Serie A in 2018 and finished 11th last season.
Parma opens this season by hosting Napoli on Sunday.
“Parma are fighters and bouncing back from Serie D with three consecutive promotions in three years is a testament to their resilience,” Krause said. “As president I promise to fight for them every step of the way. I am honoured to don the yellow and blue and play a small part in the venerable history of this proud team. I look forward to growing the team, the sport, and its fandom in Parma, Italy, and the world.”
___
More AP soccer: https://apnews.com/Soccer and https://twitter.com/AP_Sports
Related Articles
Leicester signs winger Cengiz Under on loan from Roma Valeri scores 2 goals, Timbers beat Earthquakes 6-1 Whitecaps muster 2-1 win over Real Salt Lake
Advertisement Advertise With Us
Advertisement Advertise With Us