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.