Montreal Impact owner Joey Saputo is part of the consortium which has bought Italian club Bologna.
Gazzetta dello Sport reports the group of investors led by New York-based lawyer Joe Tacopina has promised a payment of roughly $8 million over three years, a $7.6 million investment into the club by October 15 and a further $8.9 million provided to the club.
"I am pleased to confirm that the offer made by our group of investors to acquire Bologna FC has been accepted by the club's Board of Directors," Saputo said.
"A letter of intent has been signed by the club to that effect. I would like to thank all the people involved in the transaction, especially the loyal supporters of Bologna FC for their encouragement throughout the process. We will continue to work with the Board of Directors to finalize the agreement on October 15."
