I for one welcome our new Italian overlords.
https://www.ftbl.com.au/news/exclusi...akeover-603940
I for one welcome our new Italian overlords.
https://www.ftbl.com.au/news/exclusi...akeover-603940
The long awaited sale of the Newcastle Jets is on the brink of being finalised, with Italian billionaire Danilo Iervolino - owner of Serie A strugglers US Salernitana 1919 - understood to be the mystery buyer.
Italaian sources claim Iervolino, 45, is looking to build a portfolio of clubs across various jurisdictions, and it?s believed negotiations to acquire the Jets for a figure thought to be in the vicinity of $10 million are at an advanced stage.
The owners in waiting have already communicated to coach Robbie Stanton their desire to hold onto to core performers such as Phillip Cancar, Lucas Mauragis, Clayton Taylor and Mark Natta, whilst focusing on beefing up the club?s youth development structures.
Iervolino, who sold the online university business he built over 18 years for $US 1 billion, is a longtime student of football, who has already ploughed over $100 million into the club he saved from Serie A expulsion two years ago.
Lazio president Claudio Lotito had to sell Salernitana by midnight on December 31, 2021 as Italian rules preclude two teams in the same division sharing the same owner
In stepped Iervolino with an $18 million rescue package, and he?s been on a mission to make sure the club punches above its weight ever since, in the fashion of fellow Serie A underdogs Atalanta and Cristian Volpato?s Sassuolo.
Salernitana sit three points from safety at the foot of Serie A after 19 games, and recently appointed legendary ex-Italy striker Filippo Inzaghi as their new head coach.
Iervolino has vowed to splash another $32 on reinforcements to make sure they stay up, dwarfing the sum purportedly paid to liberate the Jets from the control of current benefactors Sydney FC, Western United and Western Sydney Wanderers, who have funded the club since January, 2021.
The Jets, according to Iervolino?s master plan, will be the just first offshore investment in up to four clubs to be located outside Italy.
Should get some good signings with $32.
$10M fee. No wonder current owners are dragging their feet.
Last edited by Bremsstrahlung; 11-01-2024 at 06:15 AM.
Originally Posted by Bremsstrahlung
Almost feel bad for making some poor sod pay $10 million for a licence to play in a faltering competition, a 2008 grand final win memory and SuperDylan's Lord of Flies style kid army to take on rival active supporter groups.
But then I remember he's a billionaire and I don't mind. He probably made another $10 million back while we slept last night.
At least we will get free pizza after wins now instead of our regular free Maccas.
There is just no pleasing some, this is great news.
2 things.
1. This is great news if true. Of course it is.
2. We are allowed to make of stuff, especially when it's not fully done. Cheer up a bit Alton.
Now, how soon do we think until he does a full maniac owner and changes the colours, hires and fires 3 managers in a season and starts fights with fans at a match day. You know, the full billionaire playing with his toys experience.
Danilo Iervolino was someone who I did hear whispers about being interested in buying us.
I'm not sure about the $10m figure quoted in the article. I think it might have to be a bit higher than that to get a deal completed. Depends if the club has any debts/loans the new owner might have to settle!
I was surprised when people were mentioning Redbird (AC Milan) on social media as being our new owners. This was something that I hadn't heard anything about.
In one of my previous posts I did mention that there were multiple parties interested but actually getting names was near impossible.
I think an owner who has duel football club interest might be a good thing for us. Compared to a Tinkler type owner who has/had money but no interest in the game!
It is great news if the deal is completed.
I don't think some people realise how uncertain our future is if a sale isn't finalised.
The money that has been provided to keep us going hasn't been cut off but its coming to an end!
Well said Roger, let?s be positive about this, it beats the alternative Frodo ( extinction)
I think Redbird was rumour a + rumour b = possible owner c
It was mentioned that a potential bidder had a presence in the US and Europe which was where Redbird came from. Whether its true or not is anyones guess but going from whats being "reported" it sounds like there are two possible bidders with Iervolino being one (one club currently looking to build a group) and the other possibility being Redbird or some other ownership group with several clubs in their portfolio already
Subscribe to The Jetstream Podcast http://www.newcastlefootball.net/podcast
He had better bring in jet shaped hats on day 1
Italian made merch
Italian food and Peroni at MJS
Things are looking up ppl
Subscribe to The Jetstream Podcast http://www.newcastlefootball.net/podcast
The redbird rumor come from someone on twitter, my information is they were never in the picture to start with, the 'americans' are/were tied up on the west coast and into south america. The 'Italian Tinkler' as Roger aluded to, was in the picture and it would be good if true, but as they alwaya say chickens, count.....
My understanding is that is would be $10million license fee but sale would be contingent on the new owner taking on the business as an ongoing entity and responsibility for any debts owed by the club. Could be wrong but this is something that stalled other sales (again to my understanding, happy to be told otherwise)
Now we are getting somewhere.
Oh yeh, it’s great news.
I also think we are a little skeptical due to our history.
A) with deals that are almost done.
B) with owners with deep pockets. Something inevitably goes amiss.
Stoked we have somebody interested. And while they don’t have the pedigree of say City group, red bird or Red bull, I’m excited to see how it all pans out.
Seems to genuinely have an interest in football, which helps.
Wonder if the eventual price is kept under wraps while we are hitting up other rich people for new licenses. Or if the model is allowing lower $$$ sales of existing clubs, but if you want your own, cough up.
I think you'll find that the final figure that appears in strategically placed places will be nice and high and include things like 'licence fee', 'paying off debt' and 'promise of future investment'. The closer the figure gets to the $20m valuation number they are all searching for the happier everyone will be.
Then the eventual new owner will sign an NDA and never tell anyone what they really paid.
and no one should give a shit from that day forward.
I'm just glad there's hope of some proper efnicks back in town running the show. Can't wait for Modus to introduce a specially themed insensitively titled beer to celebrate the occasion. Will def drink a few.
gonna miss these short beer lines and easy parks though if we ever get our shit together.
Also, Mr Furns, how strong was the coffee this morning old son?
Been on an absolute posting frenzy.
Forgive my scepticism, but I'll believe this when I see this guy standing out the front of Birmingham Gardens, crying, arms aloft with a jets scarf above his head saying all he's ever wanted in life was to own the jets.
I mean, I hope I'm wrong, but we're relying on a single article from FTBL and a few people with "understanding". I also have the "confirmed sale" of Perth late last year in my mind.
finally some sanity
Morning Shane, what can you tell us?
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