Virtus owner addresses sponsorship concerns: 'Nothing will change' / News - Basketnews.com

Segafredo Zanetti ends its title sponsorship deal with Virtus, but team owner Massimo Zanetti reassures commitment amidst negotiations for a new partnership.

Credit: Tolga Adanali / Contributor Credit Tolga Adanali / Contributor

Segafredo Zanetti, the main sponsor of Virtus Bologna, has announced that it will not renew its sponsorship deal with the team. However, owner Massimo Zanetti has assured everyone of his commitment to the club.

2-pointers this season

54%19,5Points made:19,5Accuracy:54,2%Place in standings:11Record max:28Record min:13Most made 2FGs:Tornike ShengeliaTeamEuroLeagueStatisticsSchedule

"The old sponsorship contract has simply expired, and we are negotiating the new one, but we are staying in Bologna and Virtus. Nothing will change,"Zanetti told Il Gazzettino.

Virtus Bologna's current sponsorship contract is set to expire in June 2024.

A few months ago, Zanetti sold 50% of the shares of his company, Segafredo, to an investment fund to adjust the company's finances, which chose to invest more in marketing. Zanetti had previously sold 40% of Virtus to the CRIF group at the beginning of last season.

Segafredo Zanetti has been Virtus Bologna's title sponsor, with "Segafredo" included in the team's full name.

Virtus recently completed the 2023-24 EuroLeague season, finishing 10th and failing to qualify for the playoffs after a Play-In loss to Baskonia.

Consequently, the Italian team is one of the five candidates facing the prospect of moving down to the EuroCup competition for the upcoming season, as stated by EuroLeague CEO Paulius Motiejunas.

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