American company take over Bologna
ROME, June 12 (Reuters) - A U.S. company has signed an agreement to take over Bologna and later promoted to Serie A the only foreign-owned club.
A statement on the seven times Italian champions the site on Thursday said that TAG Partners LLC will acquire 100 percent of the club, valued at € 18 million.
He said that the company will purchase 80 per cent in July and take the remaining 20 percent at the end of next season. The statement said that the company will invest at least € 20 million in the club.
Alfredo Cazzola will remain as chairman, added the statement.
Bologna finished second in Serie B earlier this month to end a three-year spell outside the top flight.
They last won the Serie A title in 1964.
• Meanwhile, the Serie A club Genoa, Udinese and Reggina were all charged with false accounting.
The Italian Football Federation (FIGC) announced today the clubs' cases had been referred to the Disciplinary Commission by the Director of Public Prosecutions.
Their respective presidents, Enrico Preziosi, Pasquale Foti and Franco Soldati, are all accused of violating article one of the sport code of conduct, breaking the rules of ethics and show sincerity.
They are charged with making fictitious accounting entries "by far exceeds the actual value" for services players.
Former President Genoa Luigi Della Costa, the director general Giovanni Blondet, as well as former President Pierpaolo Marino Udinese are also under investigation for accounting during their tenure in charge of clubs.
It is suspected that the three clubs have tried to meet the economic obligations to allow their teams to be admitted to Serie A and Serie B.
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