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Krause Group Buys Parma, Adding to American Influence in Italian Soccer

  • September 18, 2020

He will take advice from his minority partners on how to best plot Parma’s future, though he said it will more likely focus on young players than the sorts of headline-grabbing signings the club made in the 1990s. “All of our investments, what we do as a family, is look for long-term, generational, continued success,” he said. “We are not here for the quick dollar.”

Krause’s desire to buy in to Serie A — at a time when the coronavirus pandemic threatens to undermine the revenue streams that keep European soccer afloat, with some estimates suggesting the continent’s clubs might lose as much as $4.5 billion this year — is, in part, romantic. His family has Italian ancestry, and the company already has investments in wineries and resorts in Italy.

But it is also, he said, rooted in economic sense. He cited the “collective investment” of the league’s owners in new infrastructure, and ongoing talks with a number of private equity firms to take a stake in the league’s marketing and broadcasting business, as proof that Serie A is growing and could yet regain the status it had before the rise of the Premier League.

“There are plenty of opportunities,” Krause said. “It used to be the No. 1 league in the world. There is no reason it cannot get back to that, or close to it.”

Article source: https://www.nytimes.com/2020/09/18/sports/soccer/parma-calcio-krause-group.html

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