NEWS
Tuesday May 20 2014
Bari auctioned off for €4.8m

Former referee Gianluca Paparesta has won the latest auction held for the purchase of stricken Serie B side Bari.

The club’s financial issues had worsened during this season with current owners the Matarrese family unable to service the existing debt.

On from bankruptcy proceedings beginning in February, it was seen that new owners and investment had to be found before the summer, else the club would fold.

Whilst a first auction for ownership of the club proved unsuccessful last month, four bids were presented in court today, with the starting price set at €2m.

Gianluca Paparesta, who unsuccessfully tried to bid in April’s first auction, has successfully won today’s bidding, heading his consortium of as-yet-unknown investors with a bid of €4.8m.

Former referee and Bari team manager Paparesta’s winning bid was €200,000 higher than the next highest bid. A final ruling to ratify his consortium’s offer will be made by May 23.

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