On 24 January 2007, Tommaso Ghirardi bought the club out of administration and became the owner and president of the club. Manager Claudio Ranieri helped the team avoid relegation to Serie B on the final day of the 2006–07 season following his February appointment. However, under a succession of managers, Parma's battle with relegation the following year was not successful, consigning the club to Serie B after 18 years in the top flight.
On 24 January 2007, Tommaso Ghirardi bought the club out of administration and became the owner and president of the club. Manager Claudio Ranieri helped the team avoid relegation to Serie B on the final day of the 2006–07 season following his February appointment. However, under a succession of managers, Parma's battle with relegation the following year was not successful, consigning the club to Serie B after 18 years in the top flight.