The trials and tribulations of Serie A’s American owners | OneFootball

Running an Italian team has become something of a status symbol for purchasers from the United States. But, as Giancarlo Rinaldi points out, it comes with as much risk as it does reward.

Few countries sell the dream better than Italy. Its scenery, food and history have tempted many a visitor to make their stay a permanent one down the years. However, as many of them will tell you, the reality can often prove much more testing than their sun-kissed fortnight in the summer had led them to believe.

The narrative of Serie A’s American owners is proving to be a similarly cautionary tale. While they have enjoyed some great successes they have also experienced how the Bel Paese can be infuriating, frustrating and a supreme test of patience at times. Getting a deal over the line can be complicated enough, but that is often just the beginning of the hard work which is in store.

Of course, operating a football club anywhere in the world comes with a significant health warning. Even spending huge sums of money is no guarantee of success. The new faces in Calcio are finding out that truth, along with the unique difficulties that the Italian nation can present.

MILAN, ITALY – SEPTEMBER 03: Gerry Cardinale of AC Milan looks on before the Serie A match between AC Milan and FC Internazionale at Stadio Giuseppe Meazza on September 03, 2022 in Milan, Italy. (Photo by Marco Luzzani/Getty Images)

RedBird Capital Partners are a couple of years into their tenure having purchased Milan from Elliott Management when the Rossoneri were reigning champions. If Gerry Cardinale thought he was taking on a sure thing, he has quickly been disabused of that idea. Fan discontent has been the order of the day and the recent dumping of Paulo Fonseca has done little to appease disgruntled Rossoneri. Supporters who were raised on Gullit, Rijkaard and Van Basten have been less impressed by the likes of Chukwueze, Okafor and Emerson Royal.

They might have been well advised to have a conference call with someone from the Friedkin Group who have been running Roma since 2020 but the club had been in American ownership for nearly a decade before that. Although a Conference League was delivered under Jose Mourinho, success has proved a tricky elixir to achieve. The recent lurching from Daniele De Rossi to Ivan Juric to Claudio Ranieri has smacked of a side struggling for direction. Discontent among the Giallorossi faithful has never been far away. The recent acquisition of Everton by the same group will only raise further concerns about their commitment to the cause.

And Fiorentina’s Rocco Commisso was lucky he did not have much hair when he took over the club as he would surely have pulled it all out by now as he tried to upgrade both team and stadium. A state of the art training ground is impressive but the occupants of the Curva Fiesole would surely trade it in for a trophy. The Viola have come close but the Italian-American’s time in charge has been characterised by regular rants about local bureaucracy which he feels has held him up from achieving the same success in football as he has in business in the US. Nobody ever got anything done very quickly in Italy.

ACF Fiorentina’s President Rocco Commisso waves to supporters ahead of the UEFA Europa Conference League final football match between Olympiakos and Fiorentina on May 29, 2024 at the AEK Arena in Athens. (Photo by Angelos Tzortzinis / AFP) (Photo by ANGELOS TZORTZINIS/AFP via Getty Images)

At Inter, the Oaktree Capital Management era is too short-lived to truly be judged. They have taken over arguably the most powerful squad in the country but it is surprising how quickly that can come apart. The proof of their ability to cope with their new surroundings will surely come in upcoming transfer windows.

Perhaps Atalanta have the dream arrangement with Stephen Pagliuca the majority owner but Antonio Percassi retaining a significant concern. A native guide appears to be helping them to navigate the tricky waters around them. The club is flying high and has become an envied role model for others – only time can tell how long it will last.

It certainly did not pan out very well for 777 Partners at Genoa – now under Romanian ownership. They did manage to recover from relegation to Serie B but their subsequent financial collapse provided a warning to clubs as well. Sometimes, all that glitters is not gold in terms of prospective buyers. It is better, on occasion, to have them closer to home, perhaps.

Canadian Joey Saputo is enjoying some good times at Bologna thus far and Kyle Krause at Parma and Duncan Niederauer at Venezia will be delighted to have made it to Serie A although some tough tests are in store. Still, despite the difficulties, it appears Italy remains an attraction with Hellas Verona recently linked to an American buyout and a number of Serie B teams already under US ownership. But history suggests it can be anything but easy to get to grips with the new reality in front of them. The brochure looks beautiful, of that there is no doubt, but there are some hard yards ahead before you can truly start to enjoy La Dolce Vita.

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