Verona, sale to Presidio: club valued at 120-130 million

Journalist

December 21st – 6.24pm – MILANO

Hellas Verona has been valued at 120-130 million euros in the negotiations now in the final stages for the transfer of ownership from Maurizio Setti to the American private equity company Presidio Investors. The calculated enterprise value is almost twice the club's typical revenues, net of player trading revenues.

the figures

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The 120-130 million include variable components and debt. Indebtedness, in particular, is significant but decreasing in recent months: in the balance sheet as at 30 June 2024 the exposure to banks amounted to 90 million, of which 19 million in loans and mortgages and 71 in factoring (advances on proceeds of TV rights and transfer market credits), while the balance with the other teams for the sale of players was positive for 59 million. Work is underway to define the details of a sale for 100% of the shares, held by Setti through his company Star Ball. The current sporting structure will remain unchanged, with Maurizio Setti who will have a multi-year role (together with the confirmation of sporting director Sean Sogliano), but no longer as the club's strongman. The new CEO, in fact, will be Italo Zanzi, who held the same position in Roma during Pallotta's time.

the budget

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Verona found itself in great difficulty last season, after reporting a deficit of 20 million in 2022-23, which worsened compared to the first version of the accounting document because the burden (8 million) of the settlement agreement with the Parma, relating to a dispute over market operations in the period 1998-2003. The economic-financial difficulties pushed Setti to a massive divestment, in order to recover resources from the sale of assets. Thus, in 2023-24 capital gains of 45 million were recorded, of which 19 from Ngonge, 6 from Noslin, 5 from Hien, 4 from Terracciano and Doig. Including other income, transfer market revenue amounted to 51 million and allowed Verona to report a profit of 4 million as of 30 June 2024. Net worth, however, remained in negative territory: -2 million. The losses accrued during previous years were frozen for 5 years taking advantage of a rule passed at the time of Covid. In the summer, other players were sold which produced 9 million in capital gains.

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the strategies

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A situation, that of Verona, to be constantly monitored and which cannot ignore the maintenance of Serie A. For Presidio Investors this is the first investment in football, in the wake of the growing interest of the US financial world towards Italian clubs. Once the closing has been defined, the new ownership will aim to strongly develop the commercial part, bringing North American professionalism into the company. And, at the same time, it will involve important figures from the world of football and invest new resources in player trading following the line of the current technical direction.