A new company has been created called Zebre Rugby to take the place of Zebre in the PRO12 for the 2017/2018 season.
The news comes after the Italian Rugby Federation announced that Zebre intended to withdraw from the PRO12 due to major financial difficulties.
Back in January, the club called a press conference in which president Stefano Pagliarini said they needed €1 million to stay afloat until season’s end. According to reports, players were not paid for two months.
But now it appears an amicable solution has been found. Zebre released a tweet on Monday confirming the takeover and future participation by Zebre Rugby Club in the PRO12 and European Challenge Cup.
It is good news for Italian rugby as they will continue to have two teams in the PRO12, sticking to their agreement with the Celtic Rugby Board.
Zebre Rugby Club will still be based in Parma but under completely new management. Meetings will take place this week to discuss the rebranding of the side with contracts and insurance to be discussed.