Struggling Parma has been sold for the second time this season as players await late wages.

The club announced on its website Friday that the Russian-Cypriot conglomerate which took control of the club in December sold to a group led by Fiorenzo Alborghetti, who is in the paper business.

Parma says that Alborghetti and the club's managing director Pietro Leonardi will form a new board of directors and that more details on the new owners will be revealed in the coming days.

Financial details were not disclosed.

Parma is last in Serie A and was already penalized one point earlier this season for failing to pay players' salaries.

Antonio Cassano, the club's standout forward, recently left the squad, and coach Roberto Donadoni has had trouble motivating the team.