Editing Parma Calcio 1913 (section)

==Ownership and finances==
In 1991, the club was bought by [[multinational corporation|multinational]] Italian dairy and food corporation [[Parmalat]]. This was the platform for success on the pitch but the club eventually succumbed to [[Administration (law)|administration]] in 2004 due to Parmalat's [[Parmalat bankruptcy timeline|massive bankruptcy]] with debts of $20&nbsp;billion and fraudulent activity at Parmalat worth over €10&nbsp;billion and a €167&nbsp;million net loss by the club in 2003.<ref name="sister meltdown"/><ref name="scandal threatens"/><ref name="Times Oct 15"/><ref>{{cite news|url=https://www.theguardian.com/business/2004/jan/04/corporatefraud.parmalat2 |title= Parmalat dream goes sour |date=4 January 2004 |access-date=31 December 2014 | work=[[The Guardian]] | publisher=Guardian News and Media | location=London | first=Sophie | last=Arie}}</ref><ref>Parma AC SpA ''bilancio'' (financial report and accounts) on 30 June 2003 (in Italian), [http://www.registroimprese.it PDF purchased from Italian CCIAA]</ref> On 24 January 2007, engineering entrepreneur [[Tommaso Ghirardi]] bought the club after three years of administration for $39&nbsp;million and incorporated Eventi Sportivi as a holding company owning 100% of the club's shares of €20&nbsp;million nominal value.<ref name="ghirardi arrives"/> Eventi Sportivi Srl (later S.p.A.), at first had a share capital of just €3&nbsp;million, with [[Banca Monte Parma]], owned 10% of the shares as minority.<ref>{{Cite web|url=https://www.intesasanpaolo.com/ib/public/static/redirect.html?r=aHR0cDovL3d3dy5tb250ZXBhcm1hLml0L2NvbnRlbnREYXRhL3ZpZXcvMjAwN18xMl8zMV9tb250ZXBhcm1hX2JpbGFuY2lvNC5wZGY%2faWQ9Q05ULTA1LTAwMDAwMDAxMkUwMUMmY3Q9YXBwbGljYXRpb24vcGRm|title=Intesa Sanpaolo|website=www.intesasanpaolo.com|access-date=1 February 2021}}</ref> By 21 January 2009, Ghirardi's ownership of Eventi Sportivi was 75% with [[Banca Monte Parma]] holding 10% and Marco Ferrari, former vice-president Diego Penocchio and Penocchio's company Brixia Incipit each owning 5%.<ref>{{cite news | url=http://www.gazzettadiparma.it/news/sport/10421/Due-nuovi-soci-nel-Parma-Calcio.html | title=Due nuovi soci nel Parma Calcio | trans-title=Two new Parma shareholders | date=21 January 2009 | work=Gazzetta di Parma | access-date=31 December 2014 | archive-url=https://web.archive.org/web/20150128112814/http://www.gazzettadiparma.it/news/sport/10421/Due-nuovi-soci-nel-Parma-Calcio.html | archive-date=28 January 2015 | url-status=dead }}</ref> In July 2011, Ghirardi sold to both Alberto Rossi and Alberto Volpi 5% each of Eventi Sportivi.<ref>{{cite news |url=http://www.gazzettadiparma.it/news/sport/56732/Due-soci-affiancano-Tommaso-Ghirardi-.html |title=Due soci affiancano Tommaso Ghirardi: Alberto Rossi e Alberto Volpi |trans-title=Two members alongside Tommaso Ghirardi: ALberto Rossi and Alberto Volpi |language=it |date=21 July 2011 |access-date=31 December 2014 |work=Gazzetta di Parma |archive-url=https://web.archive.org/web/20141231203543/http://www.gazzettadiparma.it/news/sport/56732/Due-soci-affiancano-Tommaso-Ghirardi-.html |archive-date=31 December 2014 |url-status=dead }}</ref> On 29 February 2014, Energy T.I. Group bought 10% of the shares in the club from Eventi Sportivi.<ref>{{cite web | url=http://www.energytigroup.it/parma-f.c.html | title=Parma F.C. | access-date=31 December 2014 | archive-url=https://web.archive.org/web/20141225022237/http://www.energytigroup.it/parma-f.c.html | archive-date=25 December 2014 | url-status=dead }}</ref>
[[File:Gian Paolo Dallara.jpg|thumb|left|Parma-born motorsport businessman [[Giampaolo Dallara]] was a founding investor in S.S.D. Parma Calcio 1913.]]

On 19 December 2014 and as a result of a ruling which barred the club from a first [[Parma F.C. in Europe|European campaign]] under [[Tommaso Ghirardi]], Ghirardi sold his 66.55% controlling stake in Eventi Sportivi to Dastraso Holding Ltd, a company based in Cyprus and controlled by [[Rezart Taçi]] for €1, at which point the club was $200&nbsp;million in debt.<ref name="Times Oct 15"/><ref>{{cite web|url=https://www.theguardian.com/football/blog/2015/jan/26/parmas-shrinking-violets-facing-a-sour-future-in-serie-a|work=[[The Guardian]] | publisher=Guardian News and Media|location=London|first=Nicky|last=Bandini|date=26 January 2015|title=Parma's shrinking violets facing a sour future in Serie A}}</ref><ref name="parma_ownership">{{ cite news |url=http://fcparma.com/news/parma-fc-alla-dastraso-holdings-limited-il-presidente-fabio-giordano-pagare-le-scadenze-e-non-retrocedere-le-nostre-priorita?lang=it |language=it |access-date=21 December 2014 |publisher=Parma FC |date=20 December 2014 |title=PARMA FC ALLA DASTRASO HOLDINGS LIMITED. IL PRESIDENTE FABIO GIORDANO: PAGAMENTI E NON RETROCEDERE LE PRIORITÀ |url-status=usurped |archive-url=https://web.archive.org/web/20141220122242/http://fcparma.com/news/parma-fc-alla-dastraso-holdings-limited-il-presidente-fabio-giordano-pagare-le-scadenze-e-non-retrocedere-le-nostre-priorita?lang=it |archive-date=20 December 2014  }}</ref> The club became the third Serie A club to become foreign-owned as a result and Albanian Emir Kodra was installed as president.<ref>{{cite news | url=https://www.bbc.co.uk/sport/0/football/30396299 | date=10 December 2014 | title=Parma: Serie A club deducted point by Italy FA | publisher=British Broadcasting Corporation | work=[[BBC Sport]]}}</ref><ref name="albanian president">{{cite news |date=23 January 2015 |title=Parma appoint Ermir Kodra, 29, as club's new president |work=[[BBC Sport]] |publisher=British Broadcasting Corporation |url=https://www.bbc.co.uk/sport/0/football/30961455}}</ref>

In February 2015, Taci sold his stake to Giampietro Manenti for the price he bought it, €1, less than two months after buying it, at which point salaries at the financially stricken club had not been paid since the previous summer.<ref name="Times Oct 15"/><ref>{{cite news | url=http://www.gazzettadiparma.it/news/calciomercato/249657/Parma--la-verita-sulla-MAPI.html | title=Parma: la verità sulla MAPI GRUP | trans-title=Parma: the truth about Mapi Group | language=it | date=8 February 2015 | work=Gazzetta di Parma | access-date=12 February 2015 | archive-url=https://web.archive.org/web/20150213004610/http://www.gazzettadiparma.it/news/calciomercato/249657/Parma--la-verita-sulla-MAPI.html | archive-date=13 February 2015 | url-status=dead }}</ref><ref>{{cite news | url=http://www.espnfc.com/parma/story/2296300/new-parma-president-giampietro-manenti-says-debt-payments-on-way | title=Parma president Giampietro Manenti says debt payments on way | first=Ben | last=Gladwell | date=12 February 2015 | work=ESPNFC.com | publisher=[[ESPN]] }}</ref><ref>{{cite news | url=http://www.football-italia.net/62458/parma-work-starts-tomorrow|date=9 February 2015|title='Parma work starts tomorrow'|work=Football-Italia.net|publisher=Football Italia}}</ref><ref>{{cite news | url=http://www.football-italia.net/62453/%E2%80%98we-sold-parma-%E2%82%AC1%E2%80%99|date=9 February 2015|title='We sold Parma for €1'|work=Football-Italia.net|publisher=Football Italia}}</ref><ref>{{cite web | url=https://www.bbc.co.uk/sport/0/football/31588196 | title=Parma's uncertain future: Former Uefa Cup winners rack up debts | date=23 February 2015 | first=Jonathan | last=Jurejko | work=[[BBC Sport]] | publisher=[[British Broadcasting Corporation]] }}</ref> With Parma bottom of Serie A, Manenti was arrested in March 2015 on allegations of [[money laundering]] and his involvement in a [[credit card fraud]] ring, imperilling the already precarious situation as the club was plunged further into debt.<ref name="Times Oct 15"/><ref>{{cite web | url=https://www.bbc.co.uk/sport/0/football/31941789 | title=Parma chairman Giampietro Manenti held over credit card scam | date=18 March 2015 | work=[[BBC Sport]] | publisher=[[British Broadcasting Corporation]] }}</ref>

On 19 March 2015, the club was declared bankrupt with a total [[Liability (financial accounting)|liabilities]] of €218&nbsp;million (including unpaid wages of €63&nbsp;million).<ref name="bankrupt">{{cite web|url=https://www.theguardian.com/football/2015/mar/19/italian-court-declares-parma-bankrupt|work=[[The Guardian]] | publisher=Guardian News and Media|location=London|date=19 March 2015|title=Italian court declares Serie A side Parma bankrupt in 10-minute hearing}}</ref><ref>{{cite news|url=http://www.gazzetta.it/Calcio/Serie-A/Parma/19-03-2015/parma-si-decide-futuro-societa-oggi-udienza-prefallimentare-110161338416.shtml|title= Il Parma è ufficialmente fallito. Ma domenica col Torino si gioca |date=19 March 2015|work=La Gazzetta dello Sport|language=it}}</ref> On 22 April 2015, the intermediate holding company of Parma, Eventi Sportivi SpA, was also declared bankruptcy by the Tribunal of Parma.<ref>{{cite news|url=http://www.repubblica.it/sport/calcio/serie-a/parma/2015/04/22/news/parma_dal_tribunale_due_no_a_manenti_dichiarata_fallita_eventi_sportivi-112581224/|title=Parma: dal tribunale due no a Manenti, dichiarata fallita Eventi Sportivi|date=22 April 2015|access-date=23 April 2015|work=La Repubblica|language=it}}</ref> The club was then declared legally bankrupt on 22 June 2015 after no new investors willing to refurbish €22.6&nbsp;million debt in order to trigger Comma 3 of [[Article 52 of N.O.I.F.]] to allow the club to remain in Serie B.<ref>{{cite web|url=http://fcparma.com/news/fallimento-parma-fc-s-p-a-il-giudice-delegato-stabilisce-il-debito-sportivo?lang=it|archive-url=https://web.archive.org/web/20150622132338/http://fcparma.com/news/fallimento-parma-fc-s-p-a-il-giudice-delegato-stabilisce-il-debito-sportivo?lang=it|title=Fallimento Parma FC S.p.A. Il giudice delegato stabilisce il debito sportivo|date=20 June 2015|archive-date=22 June 2015|access-date=20 August 2016|publisher=Parma F.C.|url-status=usurped|language=it}}</ref><ref>{{Cite news| url=https://www.theguardian.com/football/2015/jun/22/parma-relegated-serie-d-fail-new-owner | title=Parma relegated to Serie D after failing to find a new owner | work=[[The Guardian]] | publisher=Guardian News and Media | access-date=22 June 2015 | location=London | first=Ian | last=McCourt | date=22 June 2015}}</ref> Other debts of the club were either waived by the footballers or settled by the administrator. New investor was not required to repay the subordinated debt and bank debt of the old company. The medals of Parma, which was owned by the company, as well as [[Centro Sportivo di Collecchio]] which was owned by its holding company Eventi Sportivi, were under auction after the bankruptcy.<ref>{{cite web|url=http://www.gazzettadiparma.it/news/parma/338760/Eventi-Sportivi-Spa--il-28.html|title=Eventi Sportivi Spa: il 28 aprile l'asta, si parte da 9,9 milioni|date=5 March 2016|access-date=15 August 2016|work=Gazzetta di Parma|language=it|archive-url=https://web.archive.org/web/20160819035003/http://www.gazzettadiparma.it/news/parma/338760/Eventi-Sportivi-Spa--il-28.html|archive-date=19 August 2016|url-status=dead}}</ref>

The phoenix club S.S.D. Parma Calcio 1913 S.r.L. was incorporated in 2015 under the ownership of Nuovo Inizio SrL with share capital of €250,000. Nuovo Inizio was owned by a number of backers including representatives of Parmalat and local businessmen [[Guido Barilla]] (co-owner of [[Barilla Group]]), Paolo Pizzarotti (president of [[Impresa Pizzarotti]]), Mauro Del Rio and [[Giampaolo Dallara]].<ref name="Times Oct 15">{{cite news | url=https://www.thetimes.com/sport/football/article/fallen-giants-of-italian-football-begin-to-stir-778h38wtf2s | work=[[The Times]] | location=London | publisher=Times Newspapers | date=26 October 2015 | first=Rory | last=Smith | title=Fallen giants of Italian football begin to stir}}</ref><ref name="ESPN founding">{{cite news |last=Scarsi |first=Selene |date=2 July 2015 |title=Parma Calcio 1913 unveiled, 'new chapter' begins for club says Barilla |work=[[ESPN FC]] |publisher=[[ESPN]] |url=http://www.espnfc.co.uk/parma/story/2510716/parma-calcio-1913-unveiled-new-chapter-begins-for-club}}</ref><ref>{{Cite web|url=https://www.football-italia.net/68358/new-parma-takes-shape|title=New Parma takes shape &#124; Football Italia|website=www.football-italia.net|date=27 June 2015|access-date=1 February 2021}}</ref> The new owners sought to overhaul the core philosophy of Italian club ownership and formed Parma Partecipazioni Calcistiche SrL to act as a vehicle for fan ownership, so issued a further €89,286 of shares to that company. Fans therefore own approximately 25% of the club at a cost of €500 per [[Share (finance)|share]].<ref>{{cite news | url=https://www.nytimes.com/2015/08/18/sports/soccer/soccer-phoenix-tries-to-rise-from-the-ashes-of-a-once-proud-italian-program.html?_r=0 | work=[[The New York Times]] | date=17 August 2015 | first=Sam | last=Borden | title=Parma's Rebirth Rests on a Ragged Pitch }}</ref>

In June 2017, [[Chinese people|Chinese]] businessman [[Jiang Lizhang]]'s Desports group acquired a 60% majority stake in the club. The seven local businessman who launched the club in 2015 retained 30% of the club, while the remaining 10% remained in the hands of fans through Parma Partecipazione Calcistiche.<ref name="3 straight promotions"/><ref name="Dolci">{{cite news | url=http://it.eurosport.com/calcio/serie-b/2016-2017/anche-il-parma-diventa-cinese-il-60-delle-azioni-a-jiang-lizhang-crespo-sara-il-vicepresidente_sto6225782/story.shtml | work=[[Eurosport]] | date=21 June 2017 | first=Stefano | last=Dolci | title=Anche il Parma diventa cinese: il 60% delle azioni a Jiang Lizhang, Crespo sarà il vicepresidente |trans-title=Parma is next to become Chinese: 60% of the shares to Jiang Lizhang, and Crespo will be vice-president | publisher=[[Discovery Communications]]}}</ref><ref name="ParmaCalcio1913.com">{{cite news | url=http://parmacalcio1913.com/marco-ferrari-jiang-lizhang-di-desports-e-il-socio-ideale-per-crescere-il-mio-compito-e-finito-rimarro-sempre-vicino-alla-societa-come-azionista-e-come-tifoso | work=ParmaCalcio1913.com | date=21 June 2017 | title=Marco Ferrari: "Jiang Lizhang di Desports è il socio ideale per crescere. Il mio compito è finito. Rimarrò sempre vicino alla società come azionista e come tifoso" | trans-title=Marco Ferrari: "Jiang Lizhang of Desports is the ideal shareholder for growth. My task is complete. I will always remain close to the club as shareholder and f" | access-date=30 August 2017 | archive-date=31 August 2017 | archive-url=https://web.archive.org/web/20170831044032/http://parmacalcio1913.com/marco-ferrari-jiang-lizhang-di-desports-e-il-socio-ideale-per-crescere-il-mio-compito-e-finito-rimarro-sempre-vicino-alla-societa-come-azionista-e-come-tifoso | url-status=dead }}</ref> At the end of October 2018 the local Nuovo Inizio group regained control of the club reacquiring 60% of the shares, with the Chinese partners forced to downsize to 30% in light of alleged lack of diligence in meeting their obligations, while 10% remained unchanged in the public company Partecipazioni Calcistiche. On 9 November Parma Calcio held a shareholders' Meeting to appoint a new board of directors, at the end of which Pietro Pizzarotti, at the time vice-president, was appointed the new president of the club.<ref>{{Cite web|url=http://www.insideworldfootball.com/2018/10/25/local-investors-take-control-parma-back-chinas-struggling-desports/|title=Local investors take control of Parma back from China's struggling Desports|date=25 October 2018|access-date=1 February 2021}}</ref><ref>{{Cite web |url=http://parmacalcio1913.com/parma-calcio-1913-definito-il-nuovo-cda-pietro-pizzarotti-e-il-nuovo-presidente?lang=en |title=Parma Calcio 1913 PARMA CALCIO 1913: NEW BOARD OF DIRECTORS CONFIRMED WITH PIETRO PIZZAROTTI AS PRESIDENT - Parma Calcio 1913 |access-date=25 January 2019 |archive-date=26 January 2019 |archive-url=https://web.archive.org/web/20190126060936/http://parmacalcio1913.com/parma-calcio-1913-definito-il-nuovo-cda-pietro-pizzarotti-e-il-nuovo-presidente?lang=en |url-status=dead }}</ref>

In 2020, Parma were purchased by the Krause Group, owners of American-based convenience store chain [[Kum & Go]].<ref>{{Cite web|url=https://www.desmoinesregister.com/story/money/business/2020/09/15/kum-go-owners-krause-group-bid-italian-soccer-team-parma/5803987002/|title=From Iowa to Italy: Kum & Go owners purchase 90% stake in Italian soccer team|first=Tyler Jett and Katie|last=Akin|website=Des Moines Register|access-date=1 February 2021}}</ref>

Since 2013 the main sponsor is [[Cetilar]] by [[Pharmanutra]].<ref>{{cite web|url=http://parmacalcio1913.com/cetilar-main-sponsor-del-parma-calcio-anche-la-stagione-201920?lang=en|website=Parma Calcio 1913|title=CETILAR® TO CONTINUE AS MAIN SPONSOR FOR PARMA CALCIO IN THE 2019/20 SEASON|access-date=18 November 2019|archive-date=11 September 2019|archive-url=https://web.archive.org/web/20190911223211/http://parmacalcio1913.com/cetilar-main-sponsor-del-parma-calcio-anche-la-stagione-201920?lang=en|url-status=dead}}</ref>