• Loading stock data...
Thursday, July 18, 2024
Join us this September for Tuned In Request to Attend

Serie A Gets Another North American Owner in the Krause Group

  • The Iowa-based company bought a 90% stake in Parma Calcio in a deal reportedly worth more than $100 million.
  • There are now five North American-owned Serie A teams.
US Company Krause Group Becomes Controlling Owner of Serie A Team
Parma Calcio

U.S.-based Krause Group has acquired the controlling stake in Serie A soccer team Parma Calcio 1913. The deal reportedly values the team at over $100 million.

Led by Chairman and CEO Kyle Krause, the Iowa-headquartered Krause Group is the parent company to a variety of businesses, but is best known for its more than 400 Kum & Go convenience stores throughout the Midwest. 

The Krause Group now owns a 90% stake in the team and 99% of Progetto Stadio Parma, the company created to oversee renovation of Tardini Stadium. Nuovo Inizio, the previous majority owners, still own 9% of the team, while Parma Partecipazioni Calcistiche — a company that allows fans to buy shares of the team — now owns 1%. 

Nuovo Inizio, or “New Beginning,” brought together some of the main parmesan entrepreneurs — Guido Barilla, Mauro Del Rio, Marco Ferrari, Angelo Gandolfi, Giampaolo Dallara, Giacomo Malmesi, Paolo and Pietro Pizzarotti — to found Parma Calcio in July 2015 after it had been relegated to Serie D, the fourth tier of Italian soccer. The team quickly found success, returning to Serie A following three consecutive promotions.

“Once we returned the club of our city to Serie A, restarting from the amateur league only five years ago, Nuovo Inizio shareholders made the commitment to identify a new majority shareholder who would have solidity, passion and the skillset to guarantee a great future for Parma Calcio,” Marco Ferrari, Nuovo Inizio chairman, said in a release.

“The deal signed today signifies the completion of this mission: Kyle Krause’s passion for our country, sport and city makes him perfectly suited to write a new chapter in the history of Parma Calcio,” he said.

Parma Calcio is now the fifth North American-owned Serie A team. The others include AS Roma, Fiorentina, AC Milan and Bologna.

Billionaire Dan Friedkin, owner of Gulf States Toyota, bought AS Roma for $700 million in August. 

“I have a deep-rooted, intergenerational passion for both football and our ancestral home of Italy,” said Krause, who also owns the USL League Two club the Des Moines Menace. “I look forward to growing the team, the sport, and its fandom in Parma, Italy, and the world.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Angel City FC Sale Official at Record $250 Million Valuation

Disney CEO Bob Iger and wife Willow Bay now control the club.

Record Soccer Viewership in U.S. Despite Copa América’s Finish

The Euro 2024 final was Fox’s most-watched non–World Cup soccer broadcast ever.

CONMEBOL, Hard Rock Stadium Continue Trading Blame Over Copa Disaster

Each blames the other for the security madness at Sunday’s final.

Colombian Soccer Federation President Arrested in Copa Madness

The 71-year-old on the FIFA Council was arrested alongside his son.
podcast thumbnail mobile
Front Office Sports Today

Knicks’ Hart, Brunson Like New NBA Media Deals, Owner Disagrees

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’

Caleb Williams’s Contract Requests Could Have Changed the NFL

Williams asked for several unusual clauses and tax dodges.
July 1, 2024

Bobby Bonilla Day: A Look at MLB’s Top Deferral Deals and Ohtani’s Pact

Well beyond Bobby Bonilla, many current and former MLB stars have their own lucrative deferrals.
July 2, 2024

NBA and NHL Free Agency: Billions in New Deals Despite Economic Unrest

Rising revenues and salary caps are helping fuel a run of historic contracts.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
June 24, 2024

Tiger’s Golf League Hits $500 Million Valuation Before First Swing

TGL will begin play in January 2025.
June 13, 2024

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.
June 12, 2024

Saudi Arabia’s Next Big Sports Target: Boxing, With Joint Venture Worth $5B

The Public Investment Fund of Saudi Arabia is focusing on boxing as its next large-scale sports target.