Sportitalia CEO Michele Criscitiello criticised Parma and Genoa’s American owners, feeling that their lack of understanding will lead them to ‘go down in flames.’
A number of Serie A clubs are owned by American businessman or companies, such as Milan with Elliott management, the Friedkin group’s ownership of Roma and 777 Partners’ ownership of Genoa. The latter are working on purchasing third tier French side Red Star and fan protests against the takeover led to a recent match being called off.
Writing on TuttoMercatoWeb, Criscitiello criticised the American owners in Italian football.
“In closing a consideration on American ownership. Not the funds. The new properties. They struggle. Coming to Italy and not understanding our system risks being dangerous. Parma and Genoa are two obvious cases. They have sunk by themselves.
“Preziosi’s Genoa did worse damage but in the end they always saved themselves. An Italian miracle. But it was saved. The Americans have not understood anything about Serie A and will go down in flames.
“Same mistake as Parma, who understood nothing about Serie A and even less about Serie B. The club’s note on the closure of the balance sheet is chilling. Reason: relegation and covid. Parma closes the budget at -€87.5 million.
“A Serie B club with these accounts should ask a thousand questions even if the owner has paid everything off. Genoa has taken the same path and no one believes that going back up will be child’s play. Next season’s Serie B will be more competitive than Serie A.”
One American owner who has struggled to fully understand the complexities and issues of Italian football is Fiorentina chairman Rocco Commisso, who has faced difficulties trying to push through his new stadium project and come to blows with the media on a number of occasions.
American club ownership is a divisive topic, with many fans hopeful of extra investment and less controversy, whilst others point to cases like Manchester United, claiming that the club will only be a business.
Criscitiello: “Gli americani non hanno capito nulla della Serie A” https://t.co/PFbVkmO8UO
— Clan dei Grifoni Genoa – Circolo del Football (@Grifoman1) April 18, 2022
So, it is the Americans that have a problem? How about looking at the Italian systems and cultural corruptions as a potential problem? Be glad money is being invested and it is fairly clean money. (yes, Bahrain I am looking at you)
Serie A was once the pinnacle of football. Now the stadiums are old and rotting- except that of Juventus of course. They are allowed a new stadium and all the financial gains from that, while others hands are tied. Clubs don’t have the revenue streams of other leagues in europe because of the awful backroom dealings and bureaucracy. Commisso has been spot on about virtually everything he’s said. The proof is there for all to see. Just wait until there is a big downturn in the economy of Europe and see how many clubs can’t pay their bills. Rocco has been abrasive but he’s been right. Given the way Serie A and Italy operates, many will soon be begging for any ownership with real money to invest, at all to step forward and no real businessman is going to look at the state of Serie A/Italy and think “This is a sound business decision.” Be careful what you wish for.
Let the new owners build new stadiums for God sake!!!