- Associated Press - Monday, February 9, 2015

PARMA, Italy (AP) - Troubled Serie A side Parma has confirmed Giampietro Manenti as its new owner and president after the club was sold for the second time this season with players awaiting owed wages.

Parma was sold last week by the Russian-Cypriot conglomerate which only took control in December and the club said Monday it has been sold to Manenti, who will also take over as president after Ermir Kodra resigned.

The club statement adds “President Manenti and his collaborators are trying to shorten times as far as possible to meet the imminent deadlines and begin the process of rebuilding the club.”

Parma is last in Serie A and was already penalized one point earlier this season for failing to pay players’ salaries.

It has until Feb. 16 to pay or face further punishment.

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