The situation for the transfer of ownership of Sampdoria is still complex. Despite the agreement between Ferrero and the Radrizzani-Manfredi group, the times for closing the deal are pressing and the company is still at risk. The transfer of ownership could not be completed before September and there could also be a period of shared governance. There are two concrete problems to solve: that’s what the situation is
SAMP TRANSFER, ALL THE NEWS
In recent days the agreement had arrived between Massimo Ferrero and the group led by Andrea Radrizzani e Matthew Manfredibut for the transfer of ownership of Sampdoria the situation still remains particularly complex. The timing for the final closing of the dealIndeed, they squeeze and at this point the company would still be at risk both as regards registration for the next Serie B, and as regards a possible bankruptcy.
The timings
Following the economic agreement between the Radrizzani-Manfredi group and Ferrero had been approved a capital increase during the shareholders’ meeting. However, after the resolution it would have been necessary to ratify agreements with suppliers, agents and various creditors, but that hasn’t happened yet. And in some cases the situation is gradually becoming more and more complicated. These understood they would be necessary to finalize the debt restructuring agreementwhich will have to be approved by a judge, on which the current board has been working for months. The court takes about 100 days for the approval: only at that point – probably in September – could the transfer of ownership be completed. In this phase there would also be shared governance, in which there would be the intention to limit Ferrero’s decision-making power to a minimum.
The problems to solve
At present there are two concrete problems. Some providersbut especially some agents who continued to do business with Ferrero even when the latter did not pay a fee, after accepting a lower amount than what they would have been entitled to now they want more. Furthermore, some agreements between Ferrero and Radrizzani are resolvable but still a bit nebulous. Should Sampdoria fail to register, the Board of Directors could do nothing but file for bankruptcy. And, considering that the liquidation value of Sampdoria is equal to zero, the agents, the suppliers and all the creditors would get nothing.