In 1991, the club was bought by multinational Italian dairy and food corporation Parmalat. This was the platform for success on the pitch but the club eventually succumbed to administration in 2004 due to Parmalat's massive bankruptcy with debts of $20 billion and fraudulent activity at Parmalat worth over €10 billion and a €167 million net loss by the club in 2003. On 24 January 2007, engineering entrepreneur Tommaso Ghirardi bought the club after three years of administration for $39 million and incorporated Eventi Sportivi as a holding company owning 100% of the club's shares of €20 million nominal value. Eventi Sportivi Srl (later S.p.A.), at first had a share capital of just €3 million, with Banca Monte Parma, owned 10% of the shares as minority. By 21 January 2009, Ghirardi's ownership of Eventi Sportivi was 75% with Banca Monte Parma holding 10% and Marco Ferrari, former vice-president Diego Penocchio and Penocchio's company Brixia Incipit each owning 5%. In July 2011, Ghirardi sold to both Alberto Rossi and Alberto Volpi 5% each of Eventi Sportivi. On 29 February 2014, Energy T.I. Group bought 10% of the shares in the club from Eventi Sportivi.