Cagliari is increasingly "American." By June, the group of international investors led by Maurizio Fiori could control 80-90% of the Rossoblu club's capital.
According to rumors published by Calcio e Finanza, based on the minutes of the extraordinary shareholders' meeting held on February 10, Tommaso Giulini 's control is expected to gradually decrease, with a substantial change of ownership before the summer.
Fluorsid now owns 55% of the shares, while the financial vehicle Cagliari 1920 LP owns the remaining 45%. The next step would be to achieve parity, with the conversion of the shares—according to the specialized website—into two categories, A and B, with identical equity rights but different administrative powers.
The next step is the Third Closing by May 31st, with the transfer of 545,111 shares from Fluorsid to Cagliari 1920 LP, which would take control of the company. However, several bylaws are on the table, including one that would come into effect if the transaction fails to close by the established deadline.
In the background, but not in the background, is the troubled stadium situation. The city and the club have been unable to agree on the green light for construction after the presentation of the new financial plan. There's the issue of the surface rights. This is now well-known. Then there's the issue of the annual concession fee. This is also fairly well-known. Then there's the issue of parking around the stadium, which Cagliari seems to want to manage one way and the city another. And then who knows what else. The administration and Cagliari are playing a game of chess over the new stadium: every move by one triggers a countermove (most recently a surprise move) by the other.
(Unioneonline/E.Fr.)
