Basketball, Trieste becomes American ‘Goal for European cups’

Trieste becomes American. The club announced the signing of the binding agreement for the transfer of 90 percent of the company shares to the American group CSG (Cotogna Sports Group) by January 2023; the remaining 10 percent will be held by local investors. Csg, founded in 2022, has experience and expertise in the sports world and a special focus on the NBA context, sports marketing and the American and European financial markets. The team occupies 13th place in Serie A with 4 wins and 8 defeats. The agreement follows the analysis in the last six months of the parties’ law firms, to establish sporting value, balance sheet data and weight in European basketball of Pallacanestro Trieste. A new Board of Directors will be appointed in January.

Longing for Europe

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“In the last year we have analyzed the European basketball market – said Richard de Meo, founder of Csg – Trieste has the characteristics to start our project which envisages gradual growth aiming at participation in the European Cups”. “The entry of Csg – said the president Mario Ghiacci – makes Pallacanestro Trieste a company that looks to the future in a completely different and absolutely unique perspective on the Italian market”.

Goal achieved

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“We consider the task that we set ourselves to have been fulfilled – declared the shareholders Luca Farina and Marco Bono – to save, with the support of Allianz and the other stakeholders, the company from bankruptcy after the exit of Alma, ferry it towards new ownership, maintain intact the sporting asset through the permanence in Serie A. The Trieste Basket Consortium, which sees us as shareholders, will assume – maintaining 10% of the shares – the role of sole minority shareholder and with it the task of being a witness of the past, adviser for the future and a valid partner for the present”.