North Sixth Group today announced it has acquired an ownership interest in Italian professional football club Ascoli Calcio 1898 FC (Ascoli FC) in partnership with Massimo Pulcinelli and Bricofer S.p.A, the leading retailer in the home goods and DIY sector in Italy.
Founded in 1898, Ascoli boasts a rich tradition, having competed in Serie A and Serie B respectively for 16 and 25 seasons.
North Sixth Group will co-own the club alongside Massimo Pulcinelli and family. The Pulcinelli family founded Bricofer in 1979, which has grown to become one of the largest retail chains in Europe with more than 500 million Euro in annual revenues and 124 locations throughout Italy.
North Sixth Group will control international market operations and will share governance and decision-making rights with Pulcinelli in coordination with the club’s Board of Directors.
“It is an honor to own and operate a club that was founded nearly 125 years ago with the tradition, history and following of Ascoli,” said Matt Rizzetta, Chairman of North Sixth Group. “We would like to thank the Pulcinelli family, who have worked tirelessly and made numerous sacrifices during a challenging economic period to put Ascoli in a position for future growth. We look forward to partnering with Massimo and his family to build a special future for the Picchi fans.”
Joining North Sixth Group as owners are a variety of institutional and strategic investors, including former Univision CEO Vince Sadusky; engineer, entrepreneur, investor, Super Bowl champion and NFL all-pro defensive lineman Ndamukong Suh; KM Sports Ventures, a Los Angeles-based sports investment fund founded by media industry entrepreneur Mike Pollack; and Wavemaker Partners, a venture capital firm based in Los Angeles and Singapore which has raised over $650 million across multiple funds and special purpose vehicles.
“We have a special connection and shared global vision with Matt and his team at North Sixth Group,” said Massimo Pulcinelli, Ascoli FC owner and Bricofer CEO. “We have many exciting plans as our vision to bring Ascoli to Serie A continues in the years ahead, including the opening of fan clubs, youth academies and other important investments. We look forward to bringing these initiatives to life for our fans alongside our co-owners and partners at North Sixth Group.”
Representing North Sixth Group in the transaction was Tuscan-based attorney Simone Calzolai, founder of law firm Studio Legale Calzolai and Dr. Andrea Taddei of accounting firm Studio Picchi, Rome-based sports lawyer Stefano Mancini, New York-based law firm Breslow & Walker, LLP, and Nicola Cirrincione, who will serve as the club’s representative in the North American market. Representing Pulcinelli and Ferinvest S.r.l were Studio Legale Maione and Studio Legale Martella.