Iowa-Based Krause Group Jumps Into Italian Soccer With $100 Million-Plus Parma Purchase

Sep 19, 2020 225

BY: Kurt Badenhausen

The first goal of the season for Serie A won’t happen until this weekend, and already Italy’s top soccer league has seen its first upset: One of the league’s oldest teams will start play under the control of a company in the heart of the American Midwest. 

Parma Calcio 1913, named after the year it was founded and commonly referred to as Parma, announced today that the Iowa-based Krause Group will buy 90% of the team in a deal that values the club at more than $100 million, a stunning turnaround for a team that was mired in bankruptcy and stuck in the low-level Serie D just five years ago.

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SOURCE: https://www.forbes.com

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