Parma sell majority of shares

Struggling Serie A club Parma have confirmed the sale of the majority of their shares to Eventi Sportivi S.p.A.

The Italian Football Federation (FIGC) confirmed on Tuesday that Serie A's bottom club are 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 later on Tuesday that they will appeal the FIGC's sanctions, the club stated on Thursday they had sold the majority of shares, with the official handover to take place on December 16.

"Parma FC announce that today an agreement was reached to sell the majority shares of controlling party Eventi Sportivi S.p.A," read a statement on Parma's official website.

"[These] will be handed over to the new buyers in front of lawyer Giovanni Posio of Brescia on Tuesday, December 16 2014.

"At the same time, a press conference will be called to present the new shareholders and the details of the operation."