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.
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.