US-based private equity firm Presidio Investors has finalised the acquisition of struggling Italian soccer club Hellas Verona from entrepreneur Maurizio Setti, the Serie A team announced on its website Wednesday, according to a report by Reuters.
Although financial terms were not disclosed, a source familiar with the matter estimated the club’s valuation at €120m-$130m ($123m-$134m), including debts and variable components.
Presidio Investors, headquartered in Texas, joins the growing ranks of American ownership in Italian soccer, which already includes clubs like Inter Milan, AC Milan, Roma, Parma, Fiorentina, Venezia, and Atalanta.
“We have worked hard over the last few months to achieve this goal and are looking forward to taking our first steps in this historic city, leading a club that is an integral part of Verona and its people,” said Christian Puscasiu, Managing Partner at Presidio Investors.
Hellas Verona, who won their only Serie A championship in 1985, currently sit 17th in the league, just above the relegation zone.
Setti, who led the club for 13 years and was advised by Deutsche Bank during the transaction, will remain involved as a senior adviser for football operations. Meanwhile, former AS Roma CEO Italo Zanzi will assume the role of executive chairman.
