NEWS
Saturday May 25 2019
NYT: Commisso buys Fiorentina

The New York Times claims that American billionaire Rocco Commisso has agreed a Fiorentina takeover for €135m and it could be completed by Monday.

Sport Mediaset had already reported the negotiations with Commisso, who is chairman of the cable provider Mediacom and already owns the New York Cosmos.

Now the NYT suggests a deal is practically done and gives a figure of $150m, with an announcement possibly as early as Monday.

The Della Valle brothers, Andrea and Diego, rebuilt Fiorentina after bankruptcy in 2002 and took them from Serie C2 to the top flight, but have plateaued.

Continuing disagreements with the fans, who want more investment and to stop seeing their main stars sold, have prompted them to consider a sale.

Commisso is no stranger to Serie A, as he had also been in negotiations to purchase Milan only for Yonghong Li to reject his proposal, default on loans and effectively hand the club over to Elliott Management.

The New York Times claims Commisso has appointed JP Morgan Chase to help broker the deal, which reached an agreement at around $150m last week.

“Representatives for Commisso and for Fiorentina declined to comment.”

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