Tuesday, 10 June 2008

Much rumour about nothing

above: the last 12 months of AS Roma stocks

UPDATE about globalization of football (soccer) ownership post

On 1st May i wrote:

"There are several rumours that George Soros (hungarian-born US speculator and philanthropist) is going to buy Roma ; Steven Horowitz of Inner Circle Sports has been recently seen in Rome more than once, therefore someone does want to buy the club. Some newspapers wrote Soros offered about 210 million Euro for 67% of shares, which is 2,37 Euro per shares, more than double the current price. Will it be enough for the family that now owns the club?"

I was wrong because on 3rd June MF-Dow Jones (one news agency for italian stock exchange) wrote that Michael Vachon [director of communications at Soros Fund Management (SFM). Mr. Vachon serves as spokesperson for the Fund and for Mr. Soros personally] told them that Soros isn't interested about buying that team.
It might be usefull to ask some questions:
1) Was it true that George Soros (before June) wanted to buy As Roma?
If not, who started the rumour? If it was true, what went wrong?
2) Why don't the current owners (Sensi family) explain what happened in the past months?
3) The current owners need to pay back (reports talk about 370 mil of euro) some banks. Do they know how to do that without selling the team?

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