Latest news with #Fininvest
Yahoo
17 hours 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
Fox Sports
17 hours ago
- Business
- Fox Sports
Berlusconi family leaving soccer again with sale of relegated Monza to American fund
Associated Press 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: recommended in this topic
Yahoo
17 hours ago
- Business
- Yahoo
Official: Monza sale brings end to Berlusconi ownership
AC Monza has officially been bought by American investment fund Becket Layne Ventures, which will bring an end to the Berlusconi family's reign over the club. Official: Berlusconi family agree to sell Monza to US investors Monza, who were relegated from Serie A at the end of the 2024-25 season, have been bought out by new American investors. Becket Layne Ventures have purchased an initial 80% stake in the club, and have agreed to purchase the remaining 20% of the shares by June 2026. Advertisement For the meantime, Fininvest, the holding company owned by the Berlusconi family, will remain minority shareholders, and will remain on the board 'in line with its remaining shareholding', it has been confirmed. epa10119403 Silvio Berlusconi (L) and Adriano Galliani before the Italian Serie A soccer match between AC Monzaa and Torino FC at U-Power Stadium, 13 August 2022. EPA-EFE/Roberto Bregani Once Becket Layne have bought out the remaining 20% of the shares from Fininvest, the Berlusconi family will no longer have control over the club. Monza was officially bought by Fininvest, then under the control of former Prime Minister of Italy and ex-Milan President Silvio Berlusconi in 2018. Along with the guidance of former Milan CEO Adriano Galliani, Monza earned promotion to Serie A for the first time in the club's history at the end of the 2021-22 season. The club remained in possession of Fininvest after the death of Silvio Berlusconi in 2023. The holding company remained under the control of the Berlusconi family, who have since agreed to sell 100% of their shares in the club following the team's relegation to Serie B at the end of the 2024-25 campaign.
San Francisco Chronicle
17 hours ago
- Business
- San Francisco Chronicle
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. ___
Winnipeg Free Press
17 hours ago
- Business
- Winnipeg Free 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. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. ___ AP soccer:
