North Sixth Group LLC, a New York-based family office, has acquired a significant stake in Italy’s Serie B contender Ascoli Calcio, a team based in the Marche region in central-eastern Italy. This is in line with the increasing interest of North American investors in the Italian soccer market as part of their diversified marketing campaigns which has grown from 0 to 11 within this decade.
The deal, valued at $23.7 million, grants North Sixth Group a 31 percent minority stake in Ascoli Calcio along with 2 seats in its board of directors. “We purchased an initial 31% interest with options to 51% which we can elect by the end of the season,” said Matt Rizzetta, the chairman of North Sixth Group.
This deal grants the North Sixth a unique opportunity to work alongside the Pulcinelli family who hold the majority stake in the company. “I have immense respect for Pulcinelli and his family, who built a €500 million empire in the retail sector from nothing,” said Rizzetta. Additionally, the American firm is also investing over $3 million to bolster the Ascoli Calcio brand in the US. “We want to preserve the tradition of Ascoli and introduce fans in the international market who might not be as familiar with the club to the beauty, tradition and heritage of Ascoli,” added Rizetta.
The new partnership allows the North Sixth Group to focus on slowly building the club brand since the financial foundation had already been laid down by the Pulicinelli family. “This was very unique and appealing to us, as it enables us to bring in new skills, new networks and open up new markets without having to recreate the infrastructure,” Rizetta explains.
Rizetta believes that Ascoli Calcio has a strong management team with the right skill sets to be a strong contender in the international market. Along with the Pulcinelli family, their shared vision is to bring the club back to its glorious Serie A days.
‘New York-Based Family Office Acquires Ownership Stake In Italy’s Serie B Side Ascoli Calcio’ Daniele Proch, Forbes
