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KRAUSE GROUP - AN AMERICAN COMPANY LED BY CHAIRMAN AND CEO, KYLE J. KRAUSE - PURCHASE CONTROLLING STAKE IN SERIE A FOOTBALL TEAM PARMA CALCIO 1913

Published on: 18 September 2020

Nuovo Inizio – the company which brought together Parmesan entrepreneurs Guido Barilla, Mauro Del Rio, Marco Ferrari, Angelo Gandolfi, Giampaolo Dallara, Giacomo Malmesi, Paolo and Pietro Pizzarotti, and Krause Group, are pleased to announce the successful acquisition by Krause Group of the controlling stake in Parma Calcio 1913.

Krause Group, an American company led by Chairman and CEO, Kyle J. Krause, is the parent company to a diverse set of businesses in the United States and Italy that include convenience retail, logistics, wineries, hospitality, real estate, agriculture, and sports. Krause Group acquired 90% of Parma Calcio 1913 srl and 99% of Progetto Stadio Parma srl, the SPV company created to manage the renovation project of Tardini Stadium.

Following the sale, completed today in Milan in front of the notary, Mario Notari, the ownership of Parma Calcio 1913 is now divided into three groups: 90% Krause Group, 9% Nuovo Inizio and 1% Parma Partecipazioni Calcistiche, the company that brings together fans as shareholders.

“Once we returned the club of our city to Serie A, restarting from the amateur league only five years ago, Nuovo Inizio shareholders made the commitment to identify a new majority shareholder who would have solidity, passion and the skillset to guarantee a great future for Parma Calcio.”- said Marco Ferrari, Nuovo Inizio Chairman – “The deal signed today signifies the completion of this mission: Kyle Krause’s passion for our country, sport and city makes him perfectly suited to write a new chapter in the history of Parma Calcio. Our greatest well wishes go to the Krause family, while our thanks go to all those who have helped and supported us over the years “

“The acquisition of Parma Calcio 1913 is the fulfilment of a long-held dream,” said Kyle J. Krause, Chairman and CEO of Krause Group.  “My family and I have a deep-rooted, intergenerational passion for both football and our ancestral home of Italy. Parma Calcio 1913 are fighters and bouncing back from Serie D with three consecutive promotions in three years is a testament to their resilience. As president I promise to fight for them every step of the way. I am honored to don the yellow and blue, and play a small part in the venerable history of this proud team. I look forward to growing the team, the sport, and its fandom in Parma, Italy, and the world.”

Krause Group has been assisted by Mark McManigal as financial advisor and by Raffaele Caldarone and Jacopo Arnaboldi (NCTM) as legal advisors. Nuovo Inizio S.r.l. has been assisted by dott. Luigi Capitani (Studio Capitani Picone) and prof. avv. Andrea Mora (Mora & Associati) as financial advisors and by Bruno Gattai, Federico Bal, Jacopo Ceccherini (Gattai, Minoli, Agostinelli, Partners) and avv. Michele Belli (Studio legale Belli) as legal advisors.

(Photo Parma Calcio)

www.parmacalcio1913.com

Source: legaseriea.it

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