PARMA, Italy (AP) – Parma was the last foreign-owned Serie A team on Friday when the US organization Krause bought a 90% stake in the club.
“The acquisition of Parma Calcio 1913 is the realization of a dream of many years,” said Kyle Krause, president and CEO of Krause Group. “My circle of relatives and I have an intergenerational pastime deeply rooted by football and our ancestral homeland. Italy.
At the most sensitive point in Italy, Rome and AC Milan are also U. S. -owned, Inter Milan is run by the Chinese organization Suning, Fiorentina is run by an Italian-American and Bologna has a Canadian owner.
Krause Group, in Iowa, is “the parent company of a diverse set of businesses that come with local retail, logistics, Italian wineries and hotels, real estate, agriculture clubs and football,” according to the company’s website.
Parma, a two-time UEFA Cup champion in the 1990s, has experienced monetary difficulties in recent years and undergone a series of changes.
The team dismantled in 2015 and had to leave Serie D. Parma returned to Serie A in 2018 and finished 11th last season.
Parma opens this season through Napoli on Sunday.
“Parma are fighters and recovering from Serie D with 3 consecutive promotions in 3 years is a testament to their resilience,” Krause said. “As president, I promise to fight for them every step of the way. I am honored to wear yellow and blue and play a small role in the venerable story of this proud team. I look forward to seeing the team, the game and their fandom in Parma, Italy and around the world.