Pallacanestro Trieste was sold to the American group CSG-Corriere.it

the first time it happens in Italy. There Trieste Basketball 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 shareholders. CSG, founded in 2022, thus formally enters the international sports market; composed of a group of American investors with 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 agreement follows the due diligence carried out in the last six months by two law firms representing the parties, to establish the sporting value, balance sheet data and weight in European basketball of the Trieste Basketball. Following the acquisition, a new BoD will be appointed in January, on the occasion of the visit of the CSG leadership team to Trieste. The group will intervene with its own capital and with funds from direct investors, without using any financial leverage. CSG has origins in the prestigious Wharton Business School. In the last year we have analyzed the European basketball market – said Richard de Meo, Founding Partner of CSG – Trieste has the characteristics to launch our project which envisages a gradual growth of Pallacanestro Trieste, aiming at participation in the European Cups, focusing on innovation of organizational, marketing and communication processes, bringing know-how to the technical-sports sector, leveraging our international relations, especially with the NBA context. The entry of CSG makes Pallacanestro Trieste a company that looks to the future in a completely different and absolutely unique perspective on the Italian market, commented the president of Pallacanestro Trieste, Mario Ice.