Visiting Palermo was a new experience, a new challenge, exciting.
Sitting nicely at the top of Serie B in Italian football. One step away from the great heights of Juventus, Ac Milan and Inter to name just a few.
We went as a group to speak with those inside the club, to seek information. Compiling Due Diligence is hard enough on clubs inside selected information data rooms which are in distress, in another language however, is a huge challenge. Director Dean Holdsworth has owned a property in Tuscany (Italy) for 15 years. “It’s a great adventure to visit in business terms rather than holiday mode”.
“Sport Capital group are serious people, they need advice and quick. Working closely with Clive Richardson (the new President) was great, he’s grown his own businesses before and I was intrigued to work with him”.
Football business is very different and this was no surprise, a club in a great position and looking good on paper, however, behind the scenes, it’s unsustainable to believe that you can keep the funding so high in a division which does not fund the same amount, funding must come from somewhere or someone and regularly. It’s a risk and reward situation, Promotion to Serie A has huge rewards, it’s not clear in business terms and a heavy price to pay if the challenge isn’t met. A restructuring process has to be set, “get your divorce sorted out before you get married”, Legally many tough decisions have to be made, unpopular ones too, but the people will never out-grow the club. The stay away fans need to come back to support the players and the club, Palermo needs it’s people. The die hard fans have been great, leaving legacy support to their children. Palermo in Pink is unique. It’s ready for success! At what price?