Salernitana have avoided a shocking exclusion midway through the season. The trustees have accepted an offer to sell the club minutes before the December 31st’s deadline. The parties will have 45 days to complete the closing. New owner Danilo Iervolino is already de facto in control of the club.
The entrepreneur will pay €10M to acquire Salernitana. Moreover, he pledged to invest €25M to complete the season, La Repubblica reports. A Napoli fan, he built his fortune through the online university Pegaso, which he founded when he was 26. He recently sold it to the CVC fund for €1B, and he now operates in finance.
It was not the only bid on the table for Salernitana and reportedly not the richest one. Swiss fund Global Pacific Capital Management announced they would appeal. Two other consortiums were in the mix until late.
Iervolino told Corriere della Sera: “I decided to take over Salernitana with one day to go. The extraordinary passion of their fans convinced me to make a move. The club could not just disappear, and I love challenges. I am a newcomer in football, but I know and appreciate Aurelio De Laurentiis and Urbano Cairo. I will be a hands-on president. We will try everything in our power to avoid relegation. We will talk with the director and the coach. However, I like discontinuity and will look to put my imprint.”
The head of the Italian FA Gabriele Gravina played a key role in the matter. He commented on Salernitana changing hands: “It was the result of a clear and coherent choice by the federation. I only cared about respecting the rules. We managed to do it without mortifying the supporters, which is satisfying. I am happy for them.”