Led by chairman and CEO Kyle Krause, the Krause Group are involved in a variety of business including Italian wineries and hospitality, and they have acquired 90 percent of the Crociati while Nuovo Inizio still own a nine percent stake.
“The acquisition of Parma Calcio 1913 is the fulfilment of a long-held dream,” Krause said in a statement on the club’s official website.
“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.”