17:26 BST 17/08/2020
The club had previously been owned by a main shareholder James Palotta, who has stepped down from the Board of Directors
The Freidkin Group has acquired a 86.6 per cent majority stake in the Italian side, with the new ownership group now set to launch a mandatory tender offer upon the publicly-held ordinary shares that represent the final 13.4 per cent.
The club’s previous majority shareholder James Pallotta, the chairman of Boston-based Raptor Capital Management, originally purchased the club in 2011 alongside Thomas R. DiBenedetto, Michael Ruane and Richard D’Amore.
Palotta has officially resigned from his position on the board of directors alongside Charlotte Beers, Richard D’Amore, Gregory Martin, Paul Edgerly, Cameron Neely and Barry Sternlicht from the Board of Directors.
More to come