Latest news with #BrandonBerger
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. ()
Associated Press
2 days ago
- Business
- Associated Press
Berlusconi family leaving soccer again with sale of relegated Monza to American fund
MILAN (AP) — The Berlusconi family is leaving soccer again with the sale of Monza to American fund Beckett Layne Ventures. Fininvest, the Berlusconi's family holding company, announced the deal in a statement Tuesday. 'The transaction provides for an initial transfer of 80% of the shares by this summer, with the remaining 20% to be transferred by June 2026,' it said. Fininvest purchased Monza in 2018 and oversaw the club's rise from the third division to Serie A. But the club based just outside Milan finished last in the recently concluded Serie A season and was relegated to Serie B. Fininvest was previously controlled by the late Silvio Berlusconi — the three-time Italian premier who died in 2023. Berlusconi owned AC Milan from 1986 to 2017. BLV is paying about 30 million euros ($35 million) for Monza, according to the Gazzetta dello Sport. Financial details of the deal were not announced. Led by Brandon Berger, BLV is a financial partner and strategic advisor for companies operating in the sports, media, and entertainment sectors. ___ AP soccer:
