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Saturday, March 2, 2024

Boston Celtics Co-Owner Buys 55% Stake in Serie A Club

  • A group of investors led by Boston Celtics co-owner Stephen Pagliuca have agreed to acquire a 55% stake in Serie A’s Atalanta B.C.
  • The deal values the Italian soccer club at $566 million.
Atalanta/Design: Alex Brooks

A group of investors led by Boston Celtics co-owner Stephen Pagliuca have agreed to acquire a 55% stake in Serie A’s Atalanta B.C., valuing the Italian soccer club at $566 million. 

The group will acquire the stake from Atalanta’s largest shareholder, the Percassi family, which owns roughly 86% of the club through its holding company, La Dea. 

Atalanta joins Inter Milan, Genoa, AC Milan, Fiorentina, Spezia, AS Roma, and Venezia as Serie A clubs under American ownership, with three of the investments made in the past year. 

  • U.S. investor Robert Platek acquired Spezia for an undisclosed amount last February.
  • In May 2021, Oaktree Capital agreed to buy a 31% stake in Inter Milan for $336 million. 
  • Miami-based 777 Partners acquired Genoa C.F.C. for $175 million last September.

Atalanta has emerged as one of Europe’s top clubs, finishing third in Serie A in each of the last three seasons. The club also reached the quarterfinals of the 2020 UEFA Champions League. 

The success allowed Atalanta to report a full-year profit of $58 million in 2020, despite Serie A clubs collectively suffering a loss of $855 million during that year, up from $331 million in 2019. 

Renewed Interest

Last November, Apax Partners renewed its interest in investing in Serie A after consideration in 2020. The private equity firm is partnering with other potential investors on a plan to inject fresh capital into Serie A to alleviate financial losses from the past year.

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