HomeNewsFinance & LawFootballUSA

Krause family nears deal to acquire Parma as US investment in Serie A continues

(Credit: Getty Images)

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.

The move will make Parma the fourth Serie A club with American majority owners alongside AC Milan, AS Roma, and Fiorentina. AS Roma was taken over last month by Texan billionaire Dan Friedkin.

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.

Read this: Serie A | Can new investors wake football’s sleeping giant?