MSD Capital, what the new US owner of La Spezia is doing
Gabriele Volpi sells Lo Spezia. The football team ends up under the control of the US fund MSD Capital. Here are the numbers, men and investments of the North American fund
Lo Spezia passes into the hands of the US fund MSD Capital. It is the sixth Italian company (after Milan, Rome, Parma, Fiorentina and Bologna) that passes under North American control.
FOXES AND THE SPICE
After twelve years, Gabriele Volpi sells La Spezia calcio. The story between Volpi and the Ligurian society resembles a sporting miracle. It all began in 2008, when the entrepreneur from Recco saved Spezia from bankruptcy and enrolled the team in the Serie D championship. In September 2020, the team led by Vincenzo Italiano obtained promotion to Serie A for the first time in history. thanks to the double confrontation with Frosinone in the Playoff final.
After all, Volpi's career speaks of a successful manager in the world of sport: in addition to the great intuition of Spezia, Stichting Social Sport (a trust company based in Rotterdam through which Volpi manages his investments in the sports sector) also holds the Pro Recco, one of the best water polo teams in the world.
MSD CAPITAL AND ROBERT PLATEK
The American private investment fund MSD Capital is buying 90% of La Spezia. The company was founded in 1998 as an exclusive management fund for the assets of Michael Saul Dell (founder of the tech giant Dell of the same name).
In addition to the newly acquired Spezia, the New York-based fund which has a portfolio of securities and real estate investments estimated at $ 15 million also owns two other teams: Sonderjyske Fodbold, which plays in the Danish top flight and Casa Pia Ac of Lisbon.
The composition of the MSD portfolio is diversified, private equity contains within it shares of PVH Corp, a group in the fashion sector with brands of the caliber of Calvin Klein and Tommy Hilfiger, and Dine Brands Global which includes the restaurant chains IHOP and Applebee's widespread in the USA. Additionally, MSD's operations include two resorts in Hawaii, the Four Seasons Resort Maui and the Four Season Resort Hualalai.
Robert Platek, co-founder of MSD Capital and trusted by the Texan tycoon, is the figure who represents the American fund in the acquisition of La Spezia. Platek is, in all likelihood, the manager chosen by Dell to manage the Ligurian company once the transfer of ownership is concluded.
Change of ownership that will become official in a few days. The general agreement between the parties has been reached for some time on the basis of 20 million euros, to be revised downwards in the event of relegation according to Calcio e Finanza . At the moment the contracts are being examined by notaries but the feeling is that there is very little missing from the signature
A SERIES A MORE YANKEE
The transfer of ownership of La Spezia comes a few months after those of Rome and Parma, which also ended up in American hands. If for Rome it was only a handover all stars and stripes between Pallotta and Friedkin, in the cases of Parma and Spezia the company news portends a qualitative leap in terms of economic power. The idea of these large groups diving into the world of football is to transform clubs from deficit machines to self-sufficient and sustainable entities. It is not surprising, in fact, that in the new boards of directors the first round tables are centered on the thorny issue of the stadium, an essential structure for every modern club. It is likely that Platek's first reasoning (which shouldn't bring big shocks to Ligurian management, at least until June) is also likely to focus on the necessary renovations to the Picco stadium, currently not up to the level of hosting a Serie A team. First, however, there is a permanence in Serie A to be conquered on the field, an objective that in all probability will determine the short-term future of the company.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/msd-capital-cosa-fa-il-fondo-americano-nuovo-proprietario-spezia/ on Thu, 11 Feb 2021 11:10:56 +0000.