By Andrea Caropreso
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When in 2020 Kyle Krause, an American entrepreneur at the head of the Krause Group, decided to take over Parma Calcio, the club was emerging from turbulent years. No one has forgotten the Ghirardi and later Manenti eras, which led to bankruptcy and a rebirth among the amateurs. A reversal of fortunes was brought about with the arrival of a solid ownership like Krause’s, who, however, had (and still has) to bear the burden of weak financials inherited from the past. A situation further worsened by the post-Covid period, which affected almost everyone.
The 2024 financial statement
The most recent official figures show that Parma closed its accounts on December 31, 2024, with a net loss of €63.4 million. However, this represented an improvement of around €17 million compared to 2023, when losses exceeded €80 million.
| Item | 2024 Amount | Notes |
|---|---|---|
| Net result | − €63.4 million | Significant loss, but an improvement from − €80.3m in 2023 |
| Net equity | + €20.1 million | Thanks to a €63.7m capital conversion by Krause Group Italia |
| Total operating costs | ~ €105.8 million | Slight decrease compared to the previous year |
| Total revenues (incl. Serie A half-season) | ~ €41.5 million | Increase thanks to promotion and participation in Serie A for the second half of the season |
| Liquidity ratio | 1.2 | Above the FIGC minimum threshold (0.7) |
The financial recovery was mainly made possible by the investments of the American owner. The parent company, Krause Group Italia, carried out a €63.7 million capital conversion last year, guaranteeing positive net equity of €20.1 million as of December 31, 2024. This helped balance the still-high operating costs, which dropped from €109.2 million in 2023 to €105.8 million in 2024.
Forecasts for 2025
The financial report closing on June 30 of the current year will give a clearer picture of Parma’s path toward sustainability. Despite Krause’s efforts in recent years, estimates once again point to a loss—though one expected to be halved compared to previous years. If confirmed, this result would be due primarily to capital injections from the American owner, but also to revenues from player sales, sponsorships, and television rights (whose value has naturally increased with the return to Serie A).
| Estimated item | Expected value / plausible range |
|---|---|
| Total revenues | €70–85 million |
| — TV revenues (full Serie A season) | €30–40 million |
| — Commercial / sponsorship / advertising | €10–15 million |
| — Stadium / ticketing / season tickets | €4–6 million |
| — Player sales | €10–20 million |
| Total operating costs | €90–110 million |
| Estimated net result | − €20 / − €40 million |
Regarding costs, wages remain the heaviest item. Recent seasons have not created major issues in this respect, thanks to investments in talented but relatively unknown young players at the time of signing. However, salaries continue to account for the most significant portion of Parma’s expenses.
Kyle Krause’s investments
Kyle Krause acquired Parma for a total of €100 million, a figure that inevitably included the debts the American entrepreneur had to absorb in order to relaunch the club.
In the following four years, the American owner honored his initial commitment mainly through continuous capital injections that gave the Gialloblù’s finances some breathing room. From 2020 to today, the Krause Group has invested around €250 million into Parma, including capital increases, shareholder loans, and loan-to-equity conversions. This allowed the club to absorb heavy losses totaling €140 million in deficits.
Today, Parma is one of the most solid and stable ownerships in Italian football, with a long-term project based on the pillars that have defined the Krause era so far: investment in youth, revenue growth, and cost control. A way to avoid repeating the mistakes of the past.
By Andrea Caropreso
