SPAL
Joe Tacopina acquisition · 7 Jul 2021
- Buyer
- Joe Tacopina
- Seller
- Colombarini family (via Vetroresina S.p.A.)
- Stake acquired
- 100%
- Control
- Yes
- Reported consideration
- Undisclosed
- Implied equity value
- —
- League
- Serie B
- Country
- Italy
- Confidence
- MEDIUM
Joe Tacopina acquired an initial 100% of SPAL from Colombarini family (via Vetroresina S.p.A.), announced 7 Jul 2021, closing 7 Feb 2022.
The purchase consideration was not disclosed. ~€10m of new capital went into the club.
Nearest pre-acquisition revenue was €55.9m (FY 2020).
- Announced
- 7 Jul 2021
- Closed
- 7 Feb 2022
- Stake after transaction
- 100%
- Status
- completed
Reported consideration
What the buyer reportedly paid for the stake
Implied 100% equity value
Calculated: consideration ÷ stake acquired
Reported club valuation
Enterprise value
Only shown when debt/cash near the transaction date is established
Debt assumed / restructured
Primary capital injection
Total announced investment commitment
Commitments are not purchase price and not valuation
Nearest pre-acquisition financial year: 2020
Revenue
Wages
EBITDA
Net debt
Net income
This was a two-step deal, not a single closing: a preliminary agreement was reached 7 July 2021, a first closing transferred 49% on 13 August 2021 (ending 8 years of Colombarini ownership and installing Tacopina as president), and a second closing on 7 February 2022 transferred the remaining 51% held by the Colombarini vehicle Vetroresina S.p.A., taking Tacopina to 100%.
2021-07-07 · it — “Reports an accord reached between the Colombarini family and Joe Tacopina's group on 7 July 2021; a preliminary contract to follow, with due diligence and full transfer targeted for early August. Does not disclose stake % or price.”
2021-10-06 · it — “Value of production €55.9m for 2020 (down ~€16.5m YoY), driven by TV rights falling from €34.8m to €15.1m and matchday revenue collapsing due to COVID; total liabilities down from €72.8m to €60.5m; equity positive €9.4m, supported by €1.7m Colombarini capital contribution and €9.4m deferred amortization.”
2022-02-07 · it — “Confirms Tacopina Italian Football Investment S.r.l. acquired the remaining 51% held by Vetroresina S.p.A. (Colombarini family vehicle) on 7 Feb 2022, bringing Tacopina's stake to 100%, following the first-tranche deal executed in summer 2021 (49% closed 13 Aug 2021). No price disclosed.”