Parma founders re-take control

By Football Italia staff

The group who refounded Parma after bankruptcy in 2015 have re-taken a majority shareholding in the club.

A group of seven investors bought the club and started again in Serie D under the banner Nuovo Inizio [New Start].

Chinese investors Desports Group bought a controlling stake as they rose back up the divisions, but today a surprise Press conference was called to announce another change at board level.

“This morning Nuovo Inizio completed the necessary practicalities to take back 60 per cent of Parma,” Marco Ferrari confirmed.

“30 per cent will remain with [President] Jiang Lizhang.

“Nuovo Inizio was founded with the idea of bringing enthusiasm for football in Parma. After having sold some of the shares to Lizhang, a major profile in international business, we realised that there were some issues - probably also due to some Chinese foreign policies - so there was a different scenario to the original premise.

“As a result Nuovo Inizio have decided to return as majority shareholders, as provided for in the original contract.

“We granted numerous opportunities and extensions with respect to the original agreements, but in the end we had to take note of a situation that could not be further delayed.”

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