TRIESTE – Game closed. There Trieste Basketball was sold to the American company Cotogna Sports Group. This morning in Milan the transfer of 90% of the shares of Pallacanestro Trieste to the company CSGI – Cotogna Sport Group Italia, controlled by the homonymous US group, was formalised. If we exclude a brief presence years ago, today is the first entry of Americans into national basketball.
The Shareholders’ Meeting of Pallacanestro Trieste approved the financial statements as at 30 June – which closed without losses – and acknowledged the binding request for the purchase of CSGI and the resignation of the BoD (in office since November 2019).
Once the sale of the majority of the shares had been formalised, the first meeting of new shareholders was convened on an extraordinary basis, which completed all the formalities. “After a long due diligence, we have successfully closed the acquisition agreement” commented Fitzann R. Reid, president of CSGI, announcing that tomorrow morning he will be in Trieste to meet the team, staff, minority shareholders, partners and sponsors, press and a fan delegation. «Today the new course of Pallacanestro Trieste has begun», he decreed. The new BoD is made up of five members: 4 indicated by Cotogna Sports Group Italia – Richard de Meo (President), Fitzann R. Reid (Deputy), Connor Barwin, and Mario Ghiacci (Deputy), the fifth member is chosen by the shareholder of minority, Trieste Basket srl, Andrea Bochicchio. Ghiacci will be General Manager «as a sign of continuity», as explained Prabhdeep Sekhon, Managing Director of CSGI.
