US-based Krause Group takes management of Parma soccer membership

Parma has change into the most recent Serie A crew with overseas possession after the U.S.-based Krause Group bought a 90% stake within the membership

PARMA, Italy — Parma grew to become the most recent Serie A crew with overseas possession Friday when the U.S.-based Krause Group bought a 90% stake within the membership.

“The acquisition of Parma Calcio 1913 is the achievement of a long-held dream,” stated Kyle Krause, the chairman and CEO of the Krause Group. “My household and I’ve a deep-rooted, intergenerational ardour for each soccer and our ancestral residence of Italy.”

In Italy’s high tier, Roma and AC Milan even have American possession, Inter Milan is run by the Chinese language-based Suning Group, Fiorentina is led by an Italian-American and Bologna has a Canadian proprietor.

The Iowa-based Krause Group is “the father or mother firm for a various set of companies that embrace comfort retail, logistics, Italian wineries and hospitality, actual property, agriculture, and soccer golf equipment,” based on the corporate’s web site.

Parma, a two-time UEFA Cup champion within the 1990s, fell into monetary bother in recent times and had a sequence of possession modifications.

The crew was dismantled in 2015 and needed to restart from Serie D. Parma returned to Serie A in 2018 and completed 11th final season.

Parma opens this season by internet hosting Napoli on Sunday.

“Parma are fighters and bouncing again from Serie D with three consecutive promotions in three years is a testomony to their resilience,” Krause stated. “As president I promise to combat for them each step of the best way. I’m honored to don the yellow and blue and play a small half within the venerable historical past of this proud crew. I stay up for rising the crew, the game, and its fandom in Parma, Italy, and the world.”

———

Extra AP soccer: https://apnews.com/Soccer and https://twitter.com/AP—Sports activities