Serie A team Verona acquired by US firm Presidio Investors

Verona have been acquired by American private equity firm Presidio Investors, the Serie A club and new owners said on Wednesday.

In a joint statement, Presidio and former owner Maurizio Setti said that the Texas-based company have “acquired 100 percent ownership” of Verona, ending Setti’s 13-year reign at the Stadio Marcantonio Bentegodi.

Italian media report that the value of the acquisition totals around 130 million euros ($133.8 million) but Presidio declined to comment on the sale price when asked by AFP.

Under Setti Verona, who won their only league title in 1985, have re-established as a Serie A club but have largely battled relegation and financial problems.

Verona are currently one point and place above the relegation zone ahead of their home fixture with Lazio on Sunday.

Setti will stay at Verona as “Senior Advisor of Football Operations”, working with the club’s sporting director Sean Sogliano and football staff.

Verona’s new board of directors will feature former Roma CEO Italo Zanzi as Executive Chairman.

Presidio’s acquisition of Verona makes takes the number of American-owned clubs in Serie A back up to eight after Romanian businessman Dan Sucu took control of Genoa from controversial investment company 777 Partners last month.

Sucu’s ownership of Genoa is contested by another investment firm and 777 creditor, Advantage Capital (A-Cap), who say they are Genoa’s rightful owners after taking control of 777’s football assets.