Trieste basketball becomes American, Ghiacci general manager

90% of the shares of the Trieste Basketball officially becomes the property of CSGI extension – Cotogna Sports Group Italia, a wholly owned subsidiary of the US Cotogna Sports Group. The formal operations which effectively sanctioned the transfer to the American group have been completed. The company, founded in 2022, is a group of American investors with specific experience and skills in the sports world and a special focus on the NBA context, sports marketing and the American and European financial markets. If we exclude the brief tenure of the Italian-American Pasquale Caputo as owner of Olimpia Milano at the end of the 1990s, today is the first entry of Americans into national basketball.

Ghiacci from president to general manager

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). The new BoD was appointed immediately afterwards. Lastly, the sale of the majority of the shares was formalised, at the end of which the first meeting of new shareholders was convened in an extraordinary manner, 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.