This article provides a general overview of the legal framework applicable to M&A transactions involving football clubs in Italy.
Introduction – The Context
In recent years, interest in Italian football by foreign investors has grown rapidly. Improving the economics of sports has had a profound impact on Italian football, which has been experiencing an influx of acquisitions by foreign investors. Historically a closed market to outsiders (in 2011, all Italian Serie A clubs were owned by Italians), foreigners now own 9 of the 20 clubs in Serie A. International interest in Italian football has also spread beyond Italy’s top league, with foreign investors purchasing various teams in Serie B and Lega Pro. This increase in investment and outside capital is helping the...
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