It is now official that Parma have bought out 50 per cent of Sebastian Giovinco's contract from Juventus.
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.”
Juve had hoped to bring ‘The Atomic Ant' back to base under new Coach Antonio Conte, but Giovinco confirmed on several occasions he wanted to stay with regular first team football at Parma.
Thanks to his campaign at the Stadio Tardini, the 24-year-old has broken into the senior Italy squad this year.