The Italian Football Federation (FIGC) has given the green light for the formation of a new Parma to join Serie D next season.
Parma were declared bankrupt in March after racking up staggering debts in excess of €218 million.
However, FIGC has now confirmed the club are to play under a new guise of Parma Calcio 1913, named after the year of the club’s original formation.
Former coach Nevio Scala, who led the club to the Coppa Italia and Uefa Cup during their glory years of the 1990s, is to act as the club’s president.
Parma won three Coppa Italia trophies, one Supercoppa Italiana, two Uefa Cups, one European Cup Winners’ Cup and the European Supercup between 1992 and 2002.
Illustrious players such as Tomas Brolin, Georges Grun, Faustino Asprilla, Gianfranco Zola, Fabio Cannavaro, Gianluigu Buffon, Lilian Thuram and Hernan Crespo all wore the Parma jersey throughout the years.