The 2019/2020 Serie A soccer season is over and the summer sale has officially started, with several clubs looking for a buyout. It was just two weeks ago when U.S. Businessman Dan Friedkin took over AS Roma for a whopping $700 million from James Pallotta, Friedkin’s compatriot and executive board member of the NBA's Boston Celtics.
But AS Roma seems to be just the first of a long list of Italian soccer clubs about to change ownership. According to several financial news outlets familiar with the matter, six additional clubs are on the look-out for new ownership in Serie A - Italy’s top-flight soccer league. Over the last month Parma, Genoa CFC, UC Sampdoria, Sassuolo, Hellas Verona FC and Torino FC have all been reportedly in talks with potential buyers, Il Sole 24 Ore reports.
The newspaper further explains how the COVID-19 pandemic paved the way to investors, mergers, and acquisitions. The three-months Coronavirus suspension caused significant revenue reduction and operating losses across European soccer, and Serie A is no exception. Therefore, the current situation is the perfect breeding ground for investors bargaining for a low price tag.
CFC Genoa
Enrico Preziosi’s CFC Genoa was the latest club rumored to have received a purchase offer. According to Il Secolo XIX, last week Preziosi rejected a takeover proposal reported to be worth $35 million from a group of investors including Andrea Radrizzani, president of Leeds United, freshly promoted in the English Premier League. “It’s a ridiculous offer,” Preziosi told Telenord. “I dare them to publish the details of it so everyone can see and realize how ridiculous it is”.
However, CFC Genoa is navigating through rough waters. The club avoided relegation at the very last matchday in the last two consecutive seasons. The poor sports results are unfortunately pairing with the financial one. Last July the club obtained an $8.5 million loan from two banks to pay wages and cover operative losses. Meanwhile, Moroccan investor Rahhal Boulgoute is also preparing a takeover proposal for the team, soccer finance website Calcio e Finanza reports.
US Sampdoria
CFC Genoa is not the only side in town reportedly on the verge of changing ownership. US Sampdoria president Massimo Ferrero has been in advanced negotiations with a group of investors led by Sampdoria’s former player Gianluca Vialli.
The club legend was financially supported by the American hedge fund manager Jamie Dinan and Pamplona Capital Management founder Alex Knaster. However, the deal eventually fell through as the ‘Calcioinvest’ consortium failed to bid the $120 million requested by Ferrero, failing short at $100.
FC Torino
That is a similar situation to the one that FC Torino is currently experiencing, with a president stubbornly not giving in until he will get the price demanded. On July 29 a group of local investors named ‘Console and Partners’ announced in a press release they formally presented a takeover bid to buy Torino from President Urbano Cairo.
“There are businessmen and there is capital behind this project. We want Torino to come back to the Granata fans,” said the representatives of group Console and Partners. However, Cairo has no intention to listen to any offer and told Sky Sports Italy: “I will not meet anyone. I repeat that the club is not for sale.”
Parma
Another side set to change hands seems to be Parma. According to La Gazzetta dello Sport, Qatari investor Hisham Al Hamad Al Mana is preparing to acquire a 51% stake for $75 million.
The agreement provides for the acquisition of 100% of the company's shares within five years, while the current management will continue to occupy key positions in the club after a minor board reorganization, All Asian Football reports. The Al Mana group belongs to one of the richest families in Qatar. Al Mana is the exclusive distributors of Nissan, Infiniti and Renault in Qatar among investments in luxury and fashion business.
Hellas Verona FC and Sassuolo
Last but not least, both Hellas Verona FC and Sassuolo were linked to possible takeover talks. According to financial newspaper Milano & Finanza, Sassuolo could be looking for a handover after owner Giorgio Squinzi passed away last October. The former president took Sassuolo from the fourth tier into Serie A but his heirs are assessing whether or not to continue their father’s legacy.
