Parma Calcio 1913 has released an official announcement announcing the completion of all economic processes for the passage of 60% of the crown club quota to Jiang Lizhang’s Desports. The formal conclusion of the deal will take place on November 15 and 16, when Lizhang will arrive in Parma to attend the board that will appoint him as president.

Below is the official statement from the company

Parma Calcio 1913 is pleased to announce the completion of all the processes required to conclude the agreement signed in June with Jiang Lizhang.

In the past few days an Italian bank account was deposited as necessary to close the last part of the transaction, while in the past few weeks all agreed maturities for the financial strengthening of Parma Calcio 1913 have been respected.

The new majority shareholder will rise to 60%, with New Beginnings – bringing together top local industrialists – 30% and the PPC direct 10% stake, to complete the new ownership of Parma Calcio.

Jiang Lizhang will be in Parma on November 15 and 16 to carry out the formal completion of the operation to participate in the CDA, who will officially nominate President of Parma Calcio in 1913 and for a presentation press conference at the city, in timetables and arrangements that will be forthcoming indicated.