Friday, 13 June 2008

Bologna agree takeover deal

American company TAG Partners LLC have struck a deal to buy Serie A newcomers Bologna.

The agreement makes Bologna the first team in the Italian top-flight to be fully owned by a foreign group.

The deal is valued at €18million and TAG plan to invest at least €20 million in the team for the coming season.

Bologna have confirmed in a statement that 80 per cent of their shares will be sold in July with the remaining 20 per cent sold at the end of the season.

Alfredo Cazzola will remain president of the club which returned to Serie A last month after three years in the second tier.

Source: Sky Sports

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