Parma have been sold for one euro for the second time in as many months, although the challenges in clearing the club's debt and paying wages remain.
The crisis-hit Serie A club announced in a statement published on their official website that Italian businessman Giampietro Manenti has taken control of the club for the nominal sum -- the same amount for which a Russian-Cypriot conglomerate purchased the club from previous major shareholder Tommaso Ghirardi in December.
After little more than two weeks as president, Ermir Kodra has stepped down and Manenti will now take over the club's presidency in what is a difficult time for the Emilia-Romagna club.
The players and staff at the Stadio Ennio Tardini have not been paid any wages since July and both Antonio Cassano and Felipe have had their contracts rescinded at the players' request.
The remaining members of the squad have set their employers a deadline of Feb. 15 to pay the outstanding wages or else they will take further action. Manenti, who has taken over the club's debts, says ensuring the club's employees are accommodated is now his priority.
"We're going to pay everything," Manenti told Mediaset television. "It's been a turbulent time for the players, but I've come away satisfied with my meeting [with them]. They were not asking for their wages, they were asking for the situation to be saved.
"It will be our duty to respect the deadlines, both of taxes and salaries. We are going to try to get other Italian and foreign companies on board.
"We're really motivated to get going and we're close to a very important deadline for the club. Parma have a great appeal. I had contacted Ghirardi in previous months, but negotiations didn't reach a conclusion."
Parma are rooted to the bottom of Serie A with nine points from 21 games. They are 10 points from safety having had one point docked while a further two-point penalty is imminent for their failure to pay wages on time.
After finishing sixth last season, they were refused a place in the Europa League by UEFA due to unpaid taxes and missed payment deadlines.