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Parma take Juventus midfielder Giovinco in co-ownership

Parma have signed Juventus midfielder Sebastian Giovinco in co-ownership.

The Ducali took the Italian international on loan last summer with an option to buy half the player after 12 months.

"Juventus Football Club confirm Parma FC exercised their option to buy 50 per cent of the sporting rights of Sebastian Giovinco for €3m to be paid over three years," read a statement on the Bianconeri website.

"The operation, which takes effect from July 1 2011, will generate a profit of around €2.7m on the 2011-12 budget."

 Click here for the No1 coverage of all the gossip and transfer news around Juventus.

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