The American billionaire Krause family is reportedly close to a deal to acquire Italian Serie A team Parma in a deal which values the club at more than €100m ($119m).
According to the Financial Times, the Krause Group would control up to 60 per cent of the club. A deal is poised to be reached by the end of the week.
Existing investors, including Italian billionaire Guido Barilla, would retain a minority stake in Parma for at least five years, the report added.
After being relegated to the fourth tier in 2015 following a series of financial problems and a corruption scandal, the officially named Parma Calcio 1913 has since returned to the top flight Serie A.
The Krause Group – whose business interests include retail, logistics, Italian wineries and hospitality, real estate and agriculture – also owns USL League Two club Des Moines Menace. The team is hoping to build a $60m soccer-specific stadium in the coming years and, in turn, move up to the USL Championship.
A joint investment proposal from private equity houses CVC, Advent, and FSI, and one led by a separate consortium consisting of Bain Capital and NB Renaissance Partners are reported to be leading the running to drive the next stage of Serie A’s commercial development.