American-based investor group acquires minority stake in Serie A side Cagliari
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An American-based investor group, led by Maurizio Fiori of Praxis Capital Management, has acquired a minority stake in Cagliari, the Serie A side said on Friday.
Cagliari, who are 14th in the Italian top-flight and sit three points above the relegation zone, received approval earlier this month to build a new stadium in the island of Sardinia, where they are based.
"The partnership is based on a shared long-term vision, focused on supporting the development of the new stadium project and driving the structural growth and strengthening of Cagliari Calcio," the club said in a statement.
"President Tommaso Giulini will retain full control and operational leadership of the club."
Cagliari are the latest Serie A side to attract investment from the U.S. in the last six years after Inter Milan, AS Roma, AC Milan, Atalanta, Hellas Verona and others. REUTERS
