Newly promoted Bari have announced a deal to sell the club to Texan businessman Timothy L Barton has been reached.
The Matarrese family had been in negotiations for the sale for several weeks, but had kept the identity of the buyer a secret.
This afternoon the official Bari website released a statement confirming talks were successful with JMJ Holdings, real estate firm based in Dallas.
“Following the meeting between Alessio Mora, an advisor for the holding company interested in buying Bari Calcio, and representative Salvatore Matarrese, the two parties jointly announce a valuation price has been agreed.
“The negotiations will continue and the paperwork completed by August 18.
“Mr Mora confirms that the business interested in this transaction is Texas-based JMJ Holdings, led by Timothy L Barton.”
Bari made their return to Serie A this season after several years in the lower divisions, but President Vincenzo Matarrese remained unpopular with fans and opted to sell up.
According to the official JMJ Holdings website, the company works in real estate developments and is “engaged in the acquisition, development, management and advisement of luxury assets around the world.”
http://www.football-italia.net/aug6p.html
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Wow, two clubs with foreign takoevers within weeks of each other. I think for the smaller clubs there is no choice, with is a shame. Some of the families look to be getting out while times are hard.
The deal itself sounds like what happened to Coventry, they will look to improve the club and sell on for a profit.