An American-based investor group, led by Maurizio Fiori of Praxis Capital Management, has acquired a minority stake in the Serie A team Cagliari Calcio (Italy).
‘Reuters’ stated that Cagliari, who are 14th in the Italian top-flight and sit three points above the relegation zone, received approval earlier in the month of November to build a new stadium in the island of Sardinia where they are based.
The Cagliari Calcio, commonly referred to as Cagliari, is an Italian football club based in Cagliari, Sardinia (Italy) that plays in Serie A, the first tier of Italian football. The club currently play their home matches at the 16,416-seat Unipol Domus.
The 16,416-capacity Unipol Domus is a football stadium in Cagliari, Sardinia, Italy. Built in 2017 as the Sardegna Arena it has hosted Cagliari Calcio football matches since the 2017-2018 seasons.
Chicago (US)-based the Praxis Capital Management (Praxis) is an alternative investment manager with an active style of global macro investing. Praxis launched its flagship Praxis Opportunity Fund in 2018 with the objective of achieving non-correlated, asymmetric, risk-adjusted returns compounding over a medium- to long-term time horizon.
‘Reuters’ further stated that the club said in a statement, “The partnership is based on a shared long-term vision focused on supporting the development of the new stadium project and driving the structural growth and strengthening of Cagliari Calcio. The President of Cagliari Calcio Tommaso Giulini will retain full control and operational leadership of the club.”
Cagliari are the latest Serie A side to attract investment from the United States in the last six years after Inter Milan, AS Roma, AC Milan, Atalanta BC, Hellas Verona, and others.
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