Lazio President Claudio Lotito is reportedly furious after Salernitana were sold for €10m to Danilo Iervolino, as he had hoped to make €70m from the transaction.
Lotito started from scratch with Salernitana after their bankruptcy sent them back down to Serie D in July 2011.
It is believed he ploughed circa €42m into the club over the years, helping them climb up the divisions for a return to Serie A this season after over 20 years, regularly loaning them players from Lazio.
However, it is against the rules for one person or organisation to own two different clubs in the same Italian division.
Salernitana bought by businessman Iervolino minutes before deadline
Lotito knew this when Salernitana secured promotion from Serie B in May 2021, but left it until the last possible minute to agree a sale.
If no new buyer had been found by midnight on December 31, then Salernitana would’ve been thrown out of Serie A for this season.
Local businessman Iervolino stepped in and reportedly paid €10m to purchase the Serie A club.
According to the Corriere della Sera newspaper, Lotito is livid, as he was originally asking for €70m to sell over the summer.
He also maintains the trustees in charge of the sale turned down more substantial proposals, including one from a Swiss trust fund, as they wanted guarantees of financial stability.
Now news agency ANSA claims that the Swiss fund is ready to take legal action and protest they had offered more than Iervolino.
Corriere: Lotito infuriato per la cessione della #Salernitana a Iervolino, preferiva il fondo svizzero
Due offerte superiori a quella accettata sono state respinte. Secondo la ricostruzione, sarebbero anche stati forniti codici Iban e swift errati https://t.co/UR4C0sMRUF
— il Napolista (@napolista) January 2, 2022
happy they survived,lotito only has himself to blame.
Lotito have secret plan to live next 100 years
Reminds me of Yohongli vs Commisso for the sale and purchase of Milan before Elliot Fund Tok over. But I think Commisso would have struggled more at Milan than at Florentina now. I hope Salernitana becomes a better club and stay in the top flight for more years
Local Owner?
I say win-win. We need our clubs to be owned by Italians.
Not Americanos. And certainly not Chinese or Arabs.
LOL @ Damir
Absolutely correct @ Brandon!
@brandon because there are so many rich Italians waiting in line to drop a cool $100M during the horrendous current economic state…
I didn’t know Salernitana were worth 100M. Tell me more.
Quick online search shows there are 51 Billionaires in Italy, which place them 10th in the world. Surprisingly more than Japan and France. Not to mention there are companies. But we shouldn’t believe everything we read online.
I didn’t know Salernitana were worth 100M. Tell me more.
Quick online search shows there are 51 Billionaires in Italy, which place them 10th in the world. Surprisingly more than Japan and France. Not to mention there are companies. But we shouldn’t believe everything we read online.
Used to be a time when all clubs were owned by Italians so no reason why it cannot return to that.
No need to sell your soul to them. At least Americans are buying clubs strictly for their portfolio. They could care less about what happens on the pitch.
* cannot get the last part of my message to appear. Have had to break my message up in parts. Some still missing.
He should be fined an additional $15m for letting this happen. A-hole
Is that the phone call where he was making the Racist remarks? Nazi
Which is why you don’t see the American ownership at any of the games?… Yes, Roma‘s Pallotta was a mess and a sham owner, but the Freidkins are a different story and have been fully committed (albeit quieter).
Yes the is a business and any Nationality of owner or conglomerate is in it for the portfolio eh? If you think differently, you are nuts.