American investors buy Italian first division team / News - Basketnews.com

A group of American investors bought the majority of the shares of Pistoia Basket, a team in the Lega Basket Serie A.

Credit: Enzo Pinelli/IPA/IPA/SIPA-Scanpix Credit Enzo Pinelli/IPA/IPA/SIPA-Scanpix

The majority of the shares of Pistoia Basket of the Lega Basket Serie A were purchased by investors from the United States of America, and the team's ownership changed hands.

According to an announcement by the club,East Coast Sport Group Italia S.r.l. was the company that took part in the transaction. It is said to be a "corporate vehicle" for American investors.

Pistoia received an investment of 1.5 million euros. The team will make further announcements about the upcoming changes in the club's structure.

The group is being led by Ron Rowan, a former player who spent an important part of his career in Italy, playing for teams such as Pistoia, Napoli, Montepaschi Siena, and Reggio Emilia throughout the 1990s.

"It is only thanks to the commitment, sacrifices, and investments made over the years by the undersigned and by all the presidents who preceded me, as well as from the councilors, members, sponsors, and consortium members who supported us, that today we can celebrate this epochal transition for the entire Italian basketball movement," said the club president Massimo Capecchi.

Pistoia recently won a sensational victory against Virtus Segafredo Bologna in an away game. The team was down by double digits but mounted an incredible comeback to close out the game with a score of 93-100.

Currently, they have a record of 13-12 and are ranked 6th in the Lega Basket Serie A.

Thank you for reading us! Help us even more.