Report Lotito rejected €450 million offer to buy Lazio
Lazio President Claudio Lotito (Photo by Marco Rosi – SS Lazio/Getty Images)
There are reports that Claudio Lotito rejected an offer worth €450 million to buy Lazio when it was presented by American investors via JP Morgan.
According to Il Tempo newspaper, the proposal came through JP Morgan and was originally from unknown potential buyers who were eager to get into the Serie A market.
However, President Lotito turned them down and insisted on keeping hold of the club.
It is not clear when this offer was made, nor how long it took to give a negative response.
Lotito already at war with Lazio fans
Lazio posted a statement this evening denying the report.
“With reference to the article published today by Il Tempo and authored by Luigi Bisignani, concerning an alleged €450 million offer by JP Morgan for the acquisition of S.S. Lazio S.p.A., the Company firmly and unequivocally denies the accuracy of such report.
“No proposal, expression of interest, preliminary approach or communication of any kind relating to a potential acquisition of the Company has ever been received from JP Morgan or from any party acting on its behalf.
“Accordingly, the information contained in the article is entirely unfounded and lacks any factual basis.
“In the interest of ensuring fair, accurate and transparent information to shareholders, investors, supporters and the market as a whole, S.S. Lazio S.p.A. formally requests that Il Tempo publish, without delay and with equivalent prominence, a correction of the inaccurate statements contained in the article.
“The Company also intends to bring this matter to the attention of CONSOB, given the repeated circulation of unsubstantiated reports concerning alleged transactions involving the share capital of S.S. Lazio S.p.A. Such reports may adversely affect the orderly functioning of the market, interfere with the proper price formation process of the Company’s shares and create uncertainty among investors.”
This story will only add further tension to the already inflamed situation that has seen ultras abandon the Stadio Olimpico for several months this season.
They are protesting at Lotito’s running of the club, feeling that he does not invest enough and would prefer to see them struggle on the field if it means having perfectly balanced books.
Lotito rescued Lazio from imminent bankruptcy in 2004, but that was 22 years ago and the fans are eager for someone ready to invest in the squad.
Last summer, the Biancocelesti were placed under a six-month transfer embargo for failing financial stress tests, so could not buy any new players without first making sales.
