Serie A strugglers Parma have announced Dr Peter Doca as the club's new president.
The Italian Football Federation (FIGC) confirmed last week that the top flight's bottom club were to be deducted one point and fined €5,000 for missing tax payments, as well as failing to pay the wages of players and staff.
President Tommaso Ghirardi and chief executive officer Pietro Leonardi were also banned from club-related activity for two months and fined €5,000 each.
While Parma confirmed they would appeal the FIGC's sanctions, the club stated on Thursday they had sold the majority of their shares.
Doca was confirmed as president on Tuesday and will be assisted in his new role by vice-president Fabio Giordano and general manager Leonardi - currently suspended.
The trio will be presented by the new shareholders at a news conference on Friday.
"I'm thrilled to finally announce to Parma fans that, after intense work, the acquisition has been completed successfully," said Doca. "I and my co-workers want to work so that this glorious club may have a solid future.
"Thanks to Tommaso Ghirardi for the commitment and dedication he has shown for the good of Parma in recent years."comments