Three bidders pursue Reggiana takeover
Three groups are competing to acquire Reggiana, with prospective buyers required to provide a €1m deposit and financial guarantees by October 31 as the Italian club seeks new ownership.
Three investment groups are in contention to buy Reggiana, including a consortium combining former Leeds United owner Andrea Radrizzani with sports investment platform NXTPLAY Capital.The Serie C club’s prospective buyers face an October 31 deadline to lodge €1m and demonstrate their financial commitment, with a further €1m payment reportedly scheduled for December 15.The deposits would be non-refundable if a bidder withdraws, while interested parties must also provide bank guarantees and take responsibility for commitments associated with existing financial guarantees.Two offers have reportedly been submitted, with a third group of Brescia-based entrepreneurs completing its proposal. No preferred buyer has been selected.Reggiana is controlled by Romano Amadei, the entrepreneur behind heating systems manufacturer Immergas, who holds 74.79%. Carmelo Salerno owns 20% and Giuseppe Fico the remaining 5.21%.NXTPLAY, founded by Gonzalo Vila and Real Madrid goalkeeper Thibaut Courtois, has been linked with a bid alongside Radrizzani after Vila met sale adviser Corrado Baldini in Reggio Emilia earlier this month.The group’s reported plans include developing the Villa Granata training centre and using its international relationships to support the club’s growth, while retaining much of the existing management structure.A second, Italian-American consortium is associated with financier Gianpiero Balestrieri, whose background spans mergers and acquisitions, private equity and corporate restructuring.Its proposal reportedly includes €4.5m to fund operations through the remainder of the season and approximately €2m for the January transfer window, alongside commercial links with the Emilia region’s food industry.Balestrieri is executive director of the District of Columbia Retirement Board, but the reported bid does not establish that the US public pension organisation is investing in Reggiana.The Brescia group entered discussions through football executive Francesco Marroccu and is reportedly considering a structure that would retain Salerno in a prominent role.Advisers Baldini and Eugenio Imbergamo are supporting the board’s assessment, with a shareholder-approved capital increase among the possible steps towards transferring control.Salerno and Fico reportedly hold veto and pre-emption rights, adding another consideration to the selection and approval process.The sale comes as Reggiana seeks financial stability, with reported accounts for the year ending June 2025 showing a €2.21m net loss and equity of approximately €53,000.Around a dozen supporter-sponsors have separately established a company and reportedly raised more than €1m that could support a future owner through sponsorship, direct contributions or an equity investment.The Amadei family is understood to be willing to facilitate a transfer of control and consider retaining Immergas as the club’s principal sponsor after a sale.