Tuesday 15 September 2009

Italian soccer club to get Texan owner

It didn't take long for Tim Barton to realize the impact he was making by becoming the first American to buy a top Italian soccer club.

When the Texas-based entrepreneur landed in Bari last month to sign off on the $35.8 million deal, 1,500 Italian fans surged past security and onto the tarmac to greet him, temporarily closing down the southern city's airport.

The excitement grew six days later when Bari rallied for a 1-1 draw at the home of four-time defending Serie A champion Inter Milan -- a great day for a team playing its first match back in the top Italian division in eight years.

Barton signed a preliminary deal last month to acquire Bari from the Matarrese family that has controlled the club for the past 32 years.

It's little wonder the Matarrese family is ready to finish the sale. Running Italian teams can be a risky business.

Italian Serie A clubs totaled $2 billion in cumulative operating losses over the 10-year span ending in 2007-08 -- the last season for which full records are available, according to London-based accounting firm Deloitte. English clubs gained nearly $2.87 billion over the same period.

No comments:

Post a Comment