Italian Seria A club Verona has been acquired by the American private equity firm Presidio Investors, as announced by the club and its new owners on Wednesday.
In a shared statement, Presidio and previous owner Maurizio Setti revealed that the Texas-based firm has “acquired 100 percent ownership” of Verona, concluding Setti’s 13-year tenure at the Stadio Marcantonio Bentegodi.
According to Italian media reports, the acquisition is valued at approximately 130 million euros ($133.8 million).
During Setti’s time in charge, Verona, who claimed their sole league title in 1985, has re-established itself as a Serie A club but has frequently faced relegation and financial difficulties. Currently, Verona is sitting one point and one position above the relegation zone as they prepare for their home match against Lazio on Sunday.
Setti will remain at Verona in the role of “Senior Advisor of Football Operations,” collaborating with the club’s sporting director, Sean Sogliano and the football staff.
Verona’s new board of directors will include former Roma CEO Italo Zanzi as Executive Chairman.
With Presidio’s acquisition, the number of American-owned clubs in Serie A rose to eight after Romanian businessman Dan Sucu took over Genoa from the controversial investment company 777 Partners last month.
Sucu’s ownership of Genoa is being disputed by another investment firm and 777 creditor, Advantage Capital (A-Cap), which claims they are the legitimate owners of Genoa after acquiring 777’s football assets.
