100% CON­FUSED

Soccer 360 - - Serie A -

The ma­jor­ity and mi­nor­ity share­hold­ers of Parma are wag­ing a le­gal bat­tle for con­trol of the Serie A club. Back in 2015, Parma went bank­rupt and had to be­gin again from Serie D un­der the own­er­ship of a group of lo­cal busi­ness­men un­der the name Nuovo Inizio. In June 2017, fol­low­ing their pro­mo­tion to Serie B, the own­ers sold 60 per cent of the shares to Chi­nese busi­ness­man Jiang Lizhang’s De­s­ports group. Then, on Oc­to­ber 24, 2018 the Nuovo Inizio con­glom­er­ate re­sumed con­trol of the club by pur­chas­ing 60 per cent of the shares, leav­ing Jiang Lizhang with 30 per cent and the re­main­ing 10 per cent to small share­hold­ers. The Chi­nese in­vestors are now tak­ing le­gal ac­tion to re­gain con­trol as they see the re­cent changes to be in­valid and in­con­sis­tent with the prin­ci­ples of good faith.

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