Varese Basketball: Share Capital Increase Approved

(ANSA) – ROME, DECEMBER 19 – The members of Pallacanestro Varese, during this week, officially presented and approved an increase in share capital. An operation that represents a significant step in the company’s development path and which is the result of structured work, started in recent months, aimed at progressively strengthening the club from an organisational, managerial and financial perspective.

The strengthening of the share capital contributed to increasing the attractiveness of the project, encouraging the involvement of international, national and local investors and confirming the credibility of the path undertaken by Pallacanestro Varese, in a context of growing attention towards European basketball.

Thanks to the commitment of the current members, the club has completed a first phase of consolidation, necessary to re-establish balance and solidity at an organizational and management level.

This step now allows the company to enter the second phase of the project, dedicated to the growth of the club, to be developed in a gradual and sustainable way, in line with real possibilities and with a medium-long term vision.

The resources deriving from the capital increase will be used to support this phase of development through targeted investments in strategic areas, with the aim of strengthening the club’s structure and improving its planning capacity and autonomy over time.

Luis Scola, CEO of Pallacanestro Varese: «The capital increase represents for us a natural step within a path that began some time ago. It is not a point of arrival, but a tool that allows us to face the second phase of the project, that of growth, with greater solidity. We are working to build an increasingly structured club, capable of developing sustainably over time. The sporting part is central, but it must be the result of strong foundations, a clear vision and coherent work, which looks ambitiously to the future.”

This step represents a further advancement in the process of strengthening the governance of Varese Basketball and confirms the club’s desire to build a solid project, capable of creating value over time, on and off the pitch. (HANDLE).