Latest news with #BeckettLayneVentures
eNCA
a day ago
- Business
- eNCA
Berlusconi family sell Monza football club to US investment fund
ROME - The Berlusconi family on Tuesday agreed the sale of Monza, who were relegated to the Italian second division last season, to the American investment fund Beckett Layne Ventures. "Fininvest (the Berlusconi family's holding company) and Beckett Layne Ventures (BLV) announce that they have signed an agreement today for the sale of 100 percent of AC Monza's share capital to BLV," a joint statement read. "The transaction provides for an initial transfer of 80 percent of the shares by this summer, with the remaining 20 percent to be transferred by June 2026." The cost of the transaction was not specified, but according to Italian media, Beckett Layne Ventures will pay 45 million euros ($52 million), including 15 million euros to cover the Lombardy club's debt. Flamboyant former Italian premier and businessman Silvio Berlusconi, who died in June 2023, took control of Monza in September 2018. Berlusconi had previously owned AC Milan from 1986 to 2017, using his immense wealth to turn the debt-ridden club into a European powerhouse. Under his leadership, Monza played its first season in Serie A in 2022-23. The club remained in the top flight for three seasons before being relegated in May after a disastrous campaign that ended with 18 points, 26 defeats, and only three wins. Beckett Layne Ventures are an investment fund specialising in sports and entertainment led by Brandon Berger, formerly in charge of marketing operations for English club Chelsea. The acquisition is a further illustration of the interest American investors have in Italian football. Eight of the 20 clubs that competed in the 2024-25 Serie A season -- Atalanta, Fiorentina, Inter Milan, AC Milan, Verona, Venezia, Parma and Roma -- have American owners.
New Straits Times
a day ago
- Business
- New Straits Times
Berlusconi family sell Monza football club to US investment fund
ROME: The Berlusconi family on Tuesday (July 1) agreed the sale of Monza, who were relegated to the Italian second division last season, to the American investment fund Beckett Layne Ventures. "Fininvest (the Berlusconi family's holding company) and Beckett Layne Ventures (BLV) announce that they have signed an agreement today for the sale of 100 per cent of AC Monza's share capital to BLV," a joint statement read. "The transaction provides for an initial transfer of 80 per cent of the shares by this summer, with the remaining 20 percent to be transferred by June 2026." The cost of the transaction was not specified, but according to Italian media, Beckett Layne Ventures will pay 45 million euros ($52 million), including 15 million euros to cover the Lombardy club's debt. Flamboyant former Italian premier and businessman Silvio Berlusconi, who died in June 2023, took control of Monza in September 2018. Berlusconi had previously owned AC Milan from 1986 to 2017, using his immense wealth to turn the debt-ridden club into a European powerhouse. Under his leadership, Monza played its first season in Serie A in 2022-23. The club remained in the top flight for three seasons before being relegated in May after a disastrous campaign that ended with 18 points, 26 defeats, and only three wins. Beckett Layne Ventures are an investment fund specialising in sports and entertainment led by Brandon Berger, formerly in charge of marketing operations for English club Chelsea. The acquisition is a further illustration of the interest American investors have in Italian football. Eight of the 20 clubs that competed in the 2024-25 Serie A season — Atalanta, Fiorentina, Inter Milan, AC Milan, Verona, Venezia, Parma and Roma — have American owners. — AFP
New York Times
2 days ago
- Business
- New York Times
Berlusconi family sells Monza to U.S.-based fund Beckett Layne Ventures
The family of the late Italian prime minister Silvio Berlusconi has agreed to sell soccer club AC Monza to U.S.-based investment firm Beckett Layne Ventures (BLV). A statement on Tuesday confirmed 80 per cent of the club's shares will be transferred to BLV this summer, with the remaining 20 per cent to be processed by June 2026. Advertisement The sale of Monza marks the withdrawal from soccer of the family of Berlusconi, the four-time Italian prime minister and media tycoon who previously spent three decades as the president of AC Milan. The move also marks the first time BLV, which has invested over $10billion to date in the media and entertainment sectors, have invested in soccer. Headquartered in the U.S., BLV was founded and is managed by Brandon Berger and Lauren Crampsie, both of whom were involved in restructuring Chelsea's commercial department with their background in media and marketing. BLV believe Monza, the home of Formula 1's Italian Grand Prix, is located in a strategically important region of Italy, less than 30km north of Milan. In September 2018, the Fininvest holding company — headed by former Milan club president Berlusconi — bought Monza, with Berlusconi bringing Monza-born Adriano Galliani, former CEO of Milan, also became part of the board of directors. Berlusconi and Galliani had overseen the most successful leadership in Milan's history, winning 29 trophies with the club between 1986 and 2016, including eight Serie A titles and five Champions League trophies. Their stewardship oversaw Monza's first ever promotion to Serie A, the top division of Italian football, in 2022 — starting a run of three successive seasons in the top flight, which ended last season. Monza will compete in next season's Serie B after finishing bottom of Serie A last season, with just three victories in 38 league matches. They are the latest Italian club to move to U.S. ownership, with Milan, Inter, Roma, Fiorentina, Atalanta, Parma and Hellas Verona among those with American majority owners. After selling AC Milan in 2017, Silvio Berlusconi downsized and bought nearby Monza, the hometown club of his right-hand man Adriano Galliani. It was a retirement project for both and they were able to take Monza from Italy's third tier all the way up to the top flight. Berlusconi's death in June 2023 spelled time, however, for this particular indulgence. The rest of the family is passionate about football but never to the same extent as Berlusconi and Galliani. Monza have been up for sale ever since, and the takeover by Beckett Layne Ventures marks the end of an era. Few people have changed football like Berlusconi. ()
Yahoo
2 days ago
- Business
- Yahoo
Berlusconi family sell Monza football club to US investment fund
Monza fans wave a flag emblazoned with the image of flamboyant former owner Silvio Berlusconi (Piero CRUCIATTI) The Berlusconi family on Tuesday agreed the sale of Monza, who were relegated to the Italian second division last season, to the American investment fund Beckett Layne Ventures. "Fininvest (the Berlusconi family's holding company) and Beckett Layne Ventures (BLV) announce that they have signed an agreement today for the sale of 100 percent of AC Monza's share capital to BLV," a joint statement read. Advertisement "The transaction provides for an initial transfer of 80 percent of the shares by this summer, with the remaining 20 percent to be transferred by June 2026." The cost of the transaction was not specified, but according to Italian media, Beckett Layne Ventures will pay 45 million euros ($52 million), including 15 million euros to cover the Lombardy club's debt. Flamboyant former Italian premier and businessman Silvio Berlusconi, who died in June 2023, took control of Monza in September 2018. Berlusconi had previously owned AC Milan from 1986 to 2017, using his immense wealth to turn the debt-ridden club into a European powerhouse. Under his leadership, Monza played its first season in Serie A in 2022-23. Advertisement The club remained in the top flight for three seasons before being relegated in May after a disastrous campaign that ended with 18 points, 26 defeats, and only three wins. Beckett Layne Ventures are an investment fund specialising in sports and entertainment led by Brandon Berger, formerly in charge of marketing operations for English club Chelsea. The acquisition is a further illustration of the interest American investors have in Italian football. Eight of the 20 clubs that competed in the 2024-25 Serie A season -- Atalanta, Fiorentina, Inter Milan, AC Milan, Verona, Venezia, Parma and Roma -- have American owners. jr/dar/ea/mw
France 24
2 days ago
- Business
- France 24
Berlusconi family sell Monza football club to US investment fund
"Fininvest (the Berlusconi family's holding company) and Beckett Layne Ventures (BLV) announce that they have signed an agreement today for the sale of 100 percent of AC Monza's share capital to BLV," a joint statement read. "The transaction provides for an initial transfer of 80 percent of the shares by this summer, with the remaining 20 percent to be transferred by June 2026." The cost of the transaction was not specified, but according to Italian media, Beckett Layne Ventures will pay 45 million euros ($52 million), including 15 million euros to cover the Lombardy club's debt. Flamboyant former Italian premier and businessman Silvio Berlusconi, who died in June 2023, took control of Monza in September 2018. Berlusconi had previously owned AC Milan from 1986 to 2017, using his immense wealth to turn the debt-ridden club into a European powerhouse. Under his leadership, Monza played its first season in Serie A in 2022-23. The club remained in the top flight for three seasons before being relegated in May after a disastrous campaign that ended with 18 points, 26 defeats, and only three wins. Beckett Layne Ventures are an investment fund specialising in sports and entertainment led by Brandon Berger, formerly in charge of marketing operations for English club Chelsea. The acquisition is a further illustration of the interest American investors have in Italian football. Eight of the 20 clubs that competed in the 2024-25 Serie A season -- Atalanta, Fiorentina, Inter Milan, AC Milan, Verona, Venezia, Parma and Roma -- have American owners. © 2025 AFP
