Parma Calcio have announced an end to the row between owners and signed a new shareholders agreement with three-year business plan.
Parma went bankrupt in 2015 and was forced to begin again as a whole new club from the Serie D amateur league.
That was formed by a conglomerate of local businessmen, titled Nuovo Inizio (New Beginning) and some fans who could also purchase shares.
Following two consecutive promotions to Serie B, Chinese group Desports, via Link International, purchased 60 per cent of the shares.
Parma Calcio have announced an end to the row between owners and signed a new shareholders agreement with three-year business plan.
Parma went bankrupt in 2015 and was forced to begin again as a whole new club from the Serie D amateur league.
That was formed by a conglomerate of local businessmen, titled Nuovo Inizio (New Beginning) and some fans who could also purchase shares.
Following two consecutive promotions to Serie B, Chinese group Desports, via Link International, purchased 60 per cent of the shares.
However, once Parma returned to Serie A in 2018, the Nuovo Inizio group claimed Desports were no longer solid enough backers, retaking 30 per cent of the shares.
The dispute has been going on for just over a year, but has finally been resolved, as confirmed by a press release.
“Nuovo Inizio and Link have agreed to a 3-year business plan – recently approved by the Board of Directors of Parma Calcio 1913 – that will be the blueprint for Parma Calcio’s development and that both parties have committed to finance pro-rata.
“Additionally, Parma Calcio will have access to the leading scouting network and international know-how developed by Link International over the years through Hope Group, which manages Granada CF (La Liga), Tondela FC (Primeira Liga) and Chonqing Dangdai Lifan FC (China Superleague).”
The litigation between the parties has been terminated and Nuovo Inizio confirm their 60 per cent holding, with 30 per cent to Link/Desports and 10 per cent to minor shareholders.
“We are glad to have found a final solution to the problems occurred last autumn, reaching an agreement that satisfies both parties and that is in the best interest of Parma Calcio,” said Marco Ferrari, Vice President and spokesman for Nuovo Inizio.
“We deeply appreciate the investments made by Jiang Lizhang in Parma Calcio over the past few years that have been crucial for the immediate relaunch of the club.
“We are also pleased to count on the contribution of the management delegated by Hope Group, whose professionalism we have already appreciated in the past.”
President of Link International and Hope Group Jiang Lizhang also assured they would “prioritise Parma’s interests above anything else. We will continue to support the Company in every way so we can take this historical Club where it belongs.”