Bologna has been acquired by a group of North American investors led by New York-based lawyer Joe Tacopina, reports, www.sportspromedia.com/. Tacopina's group also includes American sports investment company Park Lane and Joey Saputo, the president of Major League Soccer (MLS) club Montreal Impact.
The group's move to buy the second-tier Serie B side was approved by the club's board of directors last week, with finalisation of the agreement coming on Wednesday.
Reports in the Italian press suggest the new owners will invest 6 million into the financially stricken club immediately, as well as a further 6.3 million by the end of the current season.
The new owners have also committed to revamping Bologna's historic home stadium, the 38,279-seat Stadio Renato Dall'Ara.
Tacopina, who recently resigned as vice-chairman of American-owned Serie A club AS Roma, becomes Bologna's new president with immediate effect and will sit on a board that also includes Luke Bergamini and Piergiorgio Bottai.
Negotiations over the deal were led by Rick Perna, the managing director and head of sports advisory and finance at Park Lane.
In addition to overseeing the acquisition of Bologna, Park Lane has also announced that it has sold its minority stake in Major League Baseball (MLB) franchise Cincinnati Reds.
"To sell an interest in the Reds and advise on the purchase of and become a partner in Bologna FC all in the course of 10 days are monumental events for Park Lane," said the company's founder and managing director Andrew Kline.
"I am very proud of our outstanding team for delivering these results for our clients, and we are thrilled to be a partner in one of the most historic football clubs in the world."
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