After years of corporate and financial crisis due to the Crac Parmalat, Parma A.C. was renamed to Parma F.C. in June 2004.
On 24 January 2007, Tommaso Ghirardi was announced as new owner of Parma FC following a public auction sale following a failed bid from ex-Real Madrid director Lorenzo Sanz the previous year, which failed to meet the then-asking price of €27m [REF].