United States private equity firm Presidio Investors has completed a deal to buy struggling Italian club Hellas Verona from Italian entrepreneur Maurizio Setti, the Serie A side said in a statement on its website on Wednesday.
Texas-based Presidio Investors is the latest American group to buy into Italian football sides. Top flight clubs Inter Milan, AC Milan, Roma, Parma, Fiorentina, Venezia and Atalanta are all controlled by U.S. owners.
“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,” Christian Puscasiu, managing partner at Presidio Investors, said.
Financial details were not disclosed but a source with knowledge of the matter said the deal valued the club at €120-130 million ($123- $134m), including debts and some variable components.
Verona, who secured their sole national league title in 1985, are 17th in Serie A, just above the relegation zone.
Setti, who has been advised by Deutsche Bank in the deal, will remain at the club as senior adviser for football operations. He had been at the helm for 13 years.