Parma Calcio 1913 will start a "new chapter" for the club and the city after its official unveiling on Wednesday, according to one of its backers Guido Barilla. In March, Parma were declared ...

In March, Parma were declared bankrupt with debts of more than €200 million. After finishing last in Serie A, Parma were disbanded when no buyer came forward willing to take on the debt.

Parma Calcio 1913 via Getty Images It’s the third successful promotion campaign for Pecchia, who sent Hellas Verona and Cremonese to Serie A in 2017 and 2022 respectively.

PARMA, ITALY - MAY 12: Parma Calcio players celebrate the victory after the serie B match between Parma Calcio and AS Bari at Stadio Ennio Tardini on May 12, 2018 in Parma, Italy. (Photo by Alessandro ...

— Parma Calcio 1913 (@ParmaCalcio_en) September 18, 2020. Parma, a two-time UEFA Cup champion in the 1990s, fell into financial trouble in recent years and had a series of ownership changes.

Parma, which was one of Italy’s top teams in the 1990s, fell on hard financial times more recently. ... — Parma Calcio 1913 (@ParmaCalcio_en) September 18, 2020.

Parma Calcio team's performance improving after $225 million loss. According to the presentation, the team expects to earn about $11.7 million over the next 20 years.

Parma FC, sweethearts of the calcio cool cats, are between €100-€200million in debt. The 1995 and 1999 UEFA Cup Winners, who finished sixth last term, ...