 Financial troubles were brought about in late 2003 by the Parmalat scandal which caused the parent company to collapse and resulted in the club operating in controlled administration until January 2007.The club was declared bankrupt in 2015 and re-founded in Serie D but secured a record three straight promotions to return to Serie A in 2018.A club was founded in July 1913 as Verdi Foot Ball Club in honour of the centenary of famous opera composer Giuseppe Verdi, who was born in the province of Parma.