Leeds United owner secures deal to take over troubled Sampdoria
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Sampdoria were relegated from Serie A this season for the first time in over a decade.
PHOTO: EPA-EFE
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MILAN - Shareholders of troubled Italian football club Sampdoria have approved a restructuring plan, a move which paves the way for a takeover by Leeds United owner Andrea Radrizzani and his partner Matteo Manfredi.
Sampdoria, who were relegated from Serie A this season for the first time in over a decade, said the deal entails a cash injection of up to €40 million (S$58 million) to shore up the Genoa-based club’s finances.
To finalise the takeover, the restructuring plan needs final approval from the club’s creditors, a source close to the matter said, adding that talks with them were ongoing.
Hard-hit by the pandemic, Sampdoria have been for sale for over a year as part of a process aimed at repaying creditors of former chairman and owner Massimo Ferrero, who has been involved in a case of alleged bankruptcy.
A trustee has been looking after the sale process, with Lazard acting as adviser.
Sampdoria enjoyed their heyday in the early 1990s when the Genoese club secured their sole national title with a team led by the outstanding attacking pair of Gianluca Vialli and Roberto Mancini, also known as “the goal twins”.
Meanwhile, Radrizzani apologised to the fans following Leeds’ relegation from the Premier League and said they would learn from their mistakes.
Leeds, who were promoted to the English top flight after the 2019-20 campaign, were relegated this season
The Yorkshire club were known for their attacking style under former coach Marcelo Bielsa but went through four managerial changes last season, bringing in Sam Allardyce with four games left to play in a bid to beat the drop.
“We have made significant investments to try to keep Leeds United in the Premier League, but in working hard to improve the club, we have also obviously made some mistakes,” Radrizzani said in a statement.
“We are reflecting on the decisions that we have taken to ensure we learn the lessons to improve our club and make progress in the future.
“We need a clear strategy to continue our vision for the club and work is underway to produce this, which we hope will be reflected in the some key appointments in different areas of the club,” added Radrizzani. REUTERS
