Krause Group buys Parma, adding to American influence in Italian soccer
BPC Staff Sep 18, 2020 | 7:59 pm
1 min read time
127 wordsAll Latest News, Arts and Culture, Statewide NewsNew York Times: At the start of the summer, Kyle Krause still regarded the idea of owning an Italian soccer team as somewhere between an ambition and a pipe dream. It was the kind of thing, he said, that he would like to do “someday.” Not quite six weeks later, it is a reality: Des Moines-based Krause Group, the family business, has taken a controlling interest in the Serie A club Parma. It will take a 90% stake in the club, with its current majority owners — a group of industrialists in Italy — retaining the rest. The deal valued the team at more than $100 million, and turns Parma into the latest addition to the growing band of North American-owned clubs in Italian soccer’s top tier.