Cesare Prandelli was announced as the new man-in-charge in May 2002, but Parma continued to move on their top players and Parma slipped to defeat to Juventus in the 2002 Supercoppa Italiana, although the depleted squad did manage to finish above expectations in fifth place. Despite the sale of Mutu, injury to Adriano, Parmalat's financial meltdown and the insolvency of the club – which led to a name change to Parma Football Club – Parma again finished fifth, in no small part due to 23-goal Alberto Gilardino.Prandelli's departure as manager preceded the 2004–05 season and Parma plummeted to their lowest finish in Serie A – despite another 23-goal haul from Gilardino, who was then sold for €24M – as managers Silvio Baldini and Pietro Carmignani came and went.Parma ended the following season in tenth, but the Calciopoli scandal meant re-classification to seventh and a UEFA Cup spot. Stefano Pioli was appointed manager as the 2006–07 season approached.
On 24 January 2007, Tommaso Ghirardi became the owner and president of Parma F.C. In February, second-bottom Parma fired head coach Pioli and replaced him with Claudio Ranieri who managed to avoid relegation to Serie B on the final day of the season and then resigned. Parma again battled with relegation the following year and three different men – Domenico Di Carlo, Héctor Cúper and Andrea Manzo – took charge that season as Parma failed to preserve their Serie A status after eighteen years in the top flight. Life in Serie B started badly under Luigi Cagni and he was replaced by Francesco Guidolin, who won promotion back to Serie A with a second-place finish. Parma managed to finish eighth on their return to Serie A in 2009–10, narrowly missing out on qualification for the Europa League. In the summer of 2010, head coach Guidolin left the club for Udinese, swapping jobs with Pasquale Marino.
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