Sox Limited Partner; Celts Minority Owner To Buy Roma
Posted: Thu Mar 31, 2011 10:05 pm
ROME (AP)—A group of American investors led by Boston executive Thomas DiBenedetto plans to sign a deal to buy three-time Italian champion Roma by mid-April.
DiBenedetto’s group is reportedly prepared to pay ?77 million ($109 million) for a 60 percent share of the club. The Unicredit bank, which last year became co-owner of Roma following a debt-for-equity swap with the Sensi family, will retain 40 percent of the club but then sell part of its share to “strategic Italian investors.”
“The signature for the agreements is scheduled for within the next 20 days,” a joint statement late Tuesday said after days of extensive negotiations in Rome.
Roma shares on the Milan stock exchange fell sharply Wednesday, down 7.5 percent to close at ?1.11 ($1.56) per share.
The deal, which will apparently be signed in Boston, would make the four-man American group the first foreign majority owners of a Serie A club.
DiBenedetto is one of approximately 13 limited partners in the Boston Red Sox ownership group. The other members of the group planning to buy Roma are Boston Celtics minority owner James Pallotta, Michael Ruane and Richard D’Amore.
Roma has some of the biggest debt among Italian clubs, with the Gazzetta dello Sport estimating its deficit this year at ?40 million ($56 million).
Roma could fall further into debt if it doesn’t qualify for next season’s Champions League. The team sits sixth in the table, six points short of fourth— with the top four gaining entry to the lucrative competition.
Roma was eliminated from this season’s Champions League by Ukrainian side Shakhtar Donetsk this month.
http://sports.yahoo.com/soccer/news;_yl ... -ownership" onclick="window.open(this.href);return false;
DiBenedetto’s group is reportedly prepared to pay ?77 million ($109 million) for a 60 percent share of the club. The Unicredit bank, which last year became co-owner of Roma following a debt-for-equity swap with the Sensi family, will retain 40 percent of the club but then sell part of its share to “strategic Italian investors.”
“The signature for the agreements is scheduled for within the next 20 days,” a joint statement late Tuesday said after days of extensive negotiations in Rome.
Roma shares on the Milan stock exchange fell sharply Wednesday, down 7.5 percent to close at ?1.11 ($1.56) per share.
The deal, which will apparently be signed in Boston, would make the four-man American group the first foreign majority owners of a Serie A club.
DiBenedetto is one of approximately 13 limited partners in the Boston Red Sox ownership group. The other members of the group planning to buy Roma are Boston Celtics minority owner James Pallotta, Michael Ruane and Richard D’Amore.
Roma has some of the biggest debt among Italian clubs, with the Gazzetta dello Sport estimating its deficit this year at ?40 million ($56 million).
Roma could fall further into debt if it doesn’t qualify for next season’s Champions League. The team sits sixth in the table, six points short of fourth— with the top four gaining entry to the lucrative competition.
Roma was eliminated from this season’s Champions League by Ukrainian side Shakhtar Donetsk this month.
http://sports.yahoo.com/soccer/news;_yl ... -ownership" onclick="window.open(this.href);return false;
