Liverpool investor’s purchase of AS Roma raises Champions League worries
30 March 2011 | Posted in Notes & Insights | By Tom Love
Boston-based businessman Thomas DiBenedetto arrived in Rome 28th March with the intention of completing his purchase of Serie A soccer club AS Roma.
"My dream is exactly the same as millions of fans, to make Roma one of the top clubs in the world, a squad capable of winning [Serie A] every year and capable of finally being competitive in the Champions League," the American millionaire, who is a partner in the company that owns Liverpool Football Club, announced.
Though a definitive version of the takeover is yet to have been agreed upon, an official statement released 30th March revealed that the Fenway Sports Group (FSG) partner and club owners had reached a 'basic agreement'.
As such, following a week of talks between the Sensi family company Italpetroli, current owners of Roma, UniCredit Bank and DiBenedetto, an official announcement of the takeover is expected shortly.
The full statement read:
''Italpetroli S.p.a., UniCredit S.p.a. and DiBenedetto AS Roma LLC announce that negotiations in Rome over the past few days have reached a basic agreement to buy up control of AS Roma S.p.a. Based on this agreement, the buy-out should be completed by a company made up of 60 per cent DiBenedetto AS Roma LLC and 40 per cent UniCredit S.p.a. There is also an option for UniCredit to sell their shares to other strategic Italian investors.
'Over the next few days we will proceed to write out the definitive versions of the agreements reached today, which also include commitments for the reinforcement and future development of AS Roma. The signature of this agreement is expected within the next 20 days, allowing DiBenedetto AS Roma LLC to present financial guarantees. Until said guarantees and the signatures are finalised, we will not be revealing any further details on the contents of the agreement.'
As a stakeholder in FSG, formerly New England Sports Ventures (NESV), the American sports investment company which owns Major League Baseball's Boston Red Sox and Premier League soccer club Liverpool FC, concerns have been raised over the viability of both teams competing in next seasons Uefa Champions League.
Under Uefa regulations 'No individual or legal entity may have control or influence over more than one club participating in a Uefa club competition'. According to British newspaper The Guardian if any team was unable to comply then the lower-ranked club would be barred entry from the competition.
Depending on DiBenedetto's stake in FSG, specifically whether he is deemed to be 'able to exercise by any means a decisive influence in the decision making' at both Liverpool and Roma, there exists the possibility for the rule to be applicable and affect Liverpool Football Club the future.
30 March 2011 | Posted in Notes & Insights | By Tom Love
Boston-based businessman Thomas DiBenedetto arrived in Rome 28th March with the intention of completing his purchase of Serie A soccer club AS Roma.
"My dream is exactly the same as millions of fans, to make Roma one of the top clubs in the world, a squad capable of winning [Serie A] every year and capable of finally being competitive in the Champions League," the American millionaire, who is a partner in the company that owns Liverpool Football Club, announced.
Though a definitive version of the takeover is yet to have been agreed upon, an official statement released 30th March revealed that the Fenway Sports Group (FSG) partner and club owners had reached a 'basic agreement'.
As such, following a week of talks between the Sensi family company Italpetroli, current owners of Roma, UniCredit Bank and DiBenedetto, an official announcement of the takeover is expected shortly.
The full statement read:
''Italpetroli S.p.a., UniCredit S.p.a. and DiBenedetto AS Roma LLC announce that negotiations in Rome over the past few days have reached a basic agreement to buy up control of AS Roma S.p.a. Based on this agreement, the buy-out should be completed by a company made up of 60 per cent DiBenedetto AS Roma LLC and 40 per cent UniCredit S.p.a. There is also an option for UniCredit to sell their shares to other strategic Italian investors.
'Over the next few days we will proceed to write out the definitive versions of the agreements reached today, which also include commitments for the reinforcement and future development of AS Roma. The signature of this agreement is expected within the next 20 days, allowing DiBenedetto AS Roma LLC to present financial guarantees. Until said guarantees and the signatures are finalised, we will not be revealing any further details on the contents of the agreement.'
As a stakeholder in FSG, formerly New England Sports Ventures (NESV), the American sports investment company which owns Major League Baseball's Boston Red Sox and Premier League soccer club Liverpool FC, concerns have been raised over the viability of both teams competing in next seasons Uefa Champions League.
Under Uefa regulations 'No individual or legal entity may have control or influence over more than one club participating in a Uefa club competition'. According to British newspaper The Guardian if any team was unable to comply then the lower-ranked club would be barred entry from the competition.
Depending on DiBenedetto's stake in FSG, specifically whether he is deemed to be 'able to exercise by any means a decisive influence in the decision making' at both Liverpool and Roma, there exists the possibility for the rule to be applicable and affect Liverpool Football Club the future.
