Italy's Berlusconi family sells Monza to U.S-based fund Beckett Layne
The deal values the club, relegated from Serie A last season, at about 45 million euros ($53 million) including debt, according to a source with knowledge of the matter.
The sale signals the Berlusconi family's retreat from soccer, following the death in 2023 of Silvio Berlusconi, the four-time Italian Prime Minister and media tycoon.
Silvio Berlusconi, who previously owned seven-time European champions AC Milan, took over Monza in 2018 when they were playing in Italy's third-tier in a deal reportedly worth just 3 million euros.
Led by former AC Milan executive Adriano Galliani, Monza, a city just north of Milan, secured their first Serie A promotion in 2022 but finished in last place last season.
That relegation forced Fininvest, the holding company of the Berlusconis, to write down the club's book value by 70 per cent to 30 million euros.
Under the deal, Beckett Layne Ventures will acquire an 80 per cent stake in the club, with Fininvest initially retaining a 20 per cent holding before a full exit by June 2026.
Since Berlusconi took over the club, Monza have racked up losses of 270 million euros. In 2024 alone, the loss was 48 million euros.
Monza is the latest Italian soccer club sold to a U.S. investor. Top flight clubs Inter Milan, AC Milan, Roma, Parma, Fiorentina and Hellas Verona are all controlled by U.S. owners.
($1 = 0.8502 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
a day ago
- CNA
Singapore's Temasek ups stake in Italian fashion group Ermenegildo Zegna to 10%
SINGAPORE: Singapore's Temasek has increased its stake in Ermenegildo Zegna Group to 10 per cent, the state investment firm said on Friday (Aug 1). The investment underscores the company's commitment to support leading European companies and family businesses with strong track records and global potential, said Temasek. It added that the Italian company successfully established itself in the high-end luxury segment and "presents significant long-term value creation opportunities across each brand". "Leveraging our experience in the luxury sector and deep knowledge of the Asian market, we're looking forward to partnering the group on its growth journey and global expansion," said Temasek. Under the deal which was expected to close by Jul 30, Temasek will purchase 14.1 million Zegna treasury shares at US$8.95 each for US$126.4 million, the companies said in a statement. Added to the 12.7 million shares it previously acquired on the open market, that brings Temasek's total stake to 10 per cent. "We look forward to being a thoughtful, long-term partner to the Zegna family and management team, empowering them to execute on their growth strategy and supporting their vision to elevate their iconic brands and global footprint," said Nagi Hamiyeh, Temasek's head of Europe, the Middle East and Africa. Mr Hamiyeh is expected to join Zegna's board as a non-executive director at the fashion house's next annual general meeting in June 2026, according to the statement. "FERTILE GROUND" Temasek is exploring investment opportunities in Europe, where volatility resulting from US President Donald Trump's global trade war has made some companies more attractive on valuation grounds. One person familiar with the transaction told Reuters that Temasek saw "fertile ground" in Zegna, which is increasingly open to international investors. Top-tier luxury consumers, those spending over €50,000 (US$57,660) annually, continue to spend despite global economic uncertainty. Though less than 1 per cent of the market, they account for 23 per cent of industry value, according to a report from the Boston Consulting Group. Their spending has remained steady even as aspirational buyers pull back. Proceeds from the transaction will be used to strengthen Zegna's balance sheet and support expansion into new markets, particularly in Asia, where Temasek's regional expertise is expected to play an important role, the statement read.
Straits Times
a day ago
- Straits Times
Fenerbahce sign defender Skriniar from PSG and Semedo from Wolves
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Soccer Football - Europa League - Knockout Phase Playoff - First Leg - Fenerbahce v Anderlecht - Sukru Saracoglu Stadium, Istanbul, Turkey - February 13, 2025 Fenerbahce's Milan Skriniar celebrates after the match REUTERS/Dilara Senkaya/File Photo GDANSK - Slovakia defender Milan Skriniar has left French champions Paris St Germain to join Fenerbahce on a four-year contract, the clubs said on Thursday. Fenerbahce said that Skriniar, on loan with the Istanbul-based club since January, will receive an annual salary of 8.0 million euros ($9.13 million). The transfer fee was not disclosed. "Milan Skriniar... has completed a permanent move to Fenerbahce SK in Türkiye" PSG said in a statement. The 30-year-old joined PSG from Serie A club Inter Milan in 2023 and helped Fenerbahce to second place in the Turkish top flight last season. Portuguese international Nelson Semedo also signed with the club, managed by Jose Mourinho, on a two-year contract. The 31-year-old defender previously played for Barcelona and Benfica and joined the Turkish side on a free transfer after his contract with Premier League club Wolverhampton Wanderers expired. ($1=0.876 euros) REUTERS
Straits Times
a day ago
- Straits Times
Fenerbahce sign defender Skriniar from PSG
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Soccer Football - Europa League - Knockout Phase Playoff - First Leg - Fenerbahce v Anderlecht - Sukru Saracoglu Stadium, Istanbul, Turkey - February 13, 2025 Fenerbahce's Milan Skriniar celebrates after the match REUTERS/Dilara Senkaya/File Photo GDANSK - Slovakia defender Milan Skriniar has left French champions Paris St Germain to join Fenerbahce on a four-year contract, the Turkish club said on Thursday. Fenerbahce said that Skriniar will receive an annual salary of 8.0 million euros ($9.13 million). The transfer fee was not disclosed. Skriniar moved to the Istanbul-based club on loan from PSG in January before the move was made permanent on Thursday. "Milan Skriniar... has completed a permanent move to Fenerbahce SK in Türkiye" PSG said in a statement. The 30-year-old Skriniar, who joined PSG from Serie A club Inter Milan in 2023, helped Fenerbahce to finish second in the Turkish top flight last season. Fenerbahce are managed by Jose Mourinho. REUTERS
