The group that refounded Serie A side Parma after bankruptcy in '15, Nuovo Inizio, reclaimed a majority shareholding in the club. Chinese investor Desports Group bought a controlling stake as the club "rose back up the divisions," but on Tuesday, a "surprise" press conference was called to announce another change at board level. Parma Dir Marco Ferrari said, "This morning, Nuovo Inizio completed the necessary practicalities to take back 60% of Parma" (FOOTBALL ITALIA, 10/23).
The U.K. High Court adjourned an application by the revenue commissioners to wind up League of Ireland Premier Division side Limerick. The High Court petitioned to have Munster Football Club Ltd., which trades under the name Limerick FC, wound up and a liquidator appointed "arising out of an alleged failure to pay taxes including PAYE and PRSI" (LONDON TIMES, 10/23).
The company behind Global Tech, the cryptocurrency startup backed by former Australian cricket captain Michael Clarke, folded after queries from the corporate regulator "ended its plans" for a A$50M ($35M) funding round from the public. On its website, the company said, "Global Tech Exchange's Initial Coin Offering (ICO) has now ceased in accordance with ASIC requirements" (SYDNEY MORNING HERALD, 10/23).
