During the 1997–98 season, the club's eighth in Serie A, Parma Associazione Calcio competed in Serie A, the Coppa Italia, and the UEFA Champions League. The team had another good season, finishing 6th in the league and thus qualifying for the 1998–99 UEFA Cup, as well as reaching the semi-finals of the Coppa Italia. The team's solitary disappointment was a group stage exit in their first-ever appearance in the UEFA Champions League.

Parma finished 6th in Serie A, following a disappointing season. Carlo Ancelotti's team had taken the fight to Juventus for the title the previous season, but in the follow-up campaign Parma was unable to ever challenge the top three of the standings, also disappointingly failing to reach the quarter-finals of the Champions League. Ancelotti was sacked at the end of the season, with the view that he had failed to get the most out of one of Italy's most talented squads.

Note: Flags indicate national team as defined under FIFA eligibility rules. Players may hold more than one non-FIFA nationality.

Source: Almanacco Illustrato del Calcio - La Storia 1898-2004, Panini Edizioni, Modena, September 2005
Rules for classification: 1) points; 2) goal difference; 3) number of goals scored
(C) = Champion; (R) = Relegated; (P) = Promoted; (E) = Eliminated; (O) = Play-off winner; (A) = Advances to a further round.
Only applicable when the season is not finished:
(Q) = Qualified to the phase of tournament indicated; (TQ) = Qualified to tournament, but not yet to the particular phase indicated; (RQ) = Qualified to the relegation tournament indicated; (DQ) = Disqualified from tournament.

...
Wikipedia