Three US-based investment funds and holding companies have expressed initial interest in acquiring Torino Football Club, according to reports from Italian financial newspaper Il Sole 24 Ore. Bank of America has been tasked with identifying potential buyers for the Serie A side, a process initiated roughly four months ago at the request of Torino president Urbano Cairo.
The primary sticking point in any potential sale appears to be valuation. Prospective buyers are reportedly valuing Torino at under €200 million, but Cairo is seeking a figure significantly higher, believed to be in excess of that amount. It remains to be seen whether any of the initial expressions of interest will develop into formal negotiations.
Cairo indicated in May that he would be open to selling the club to a foreign investor, stating he was “very willing to step aside” and did not require an exceptionally high offer. However, recent reports suggest Cairo now values the club around €250 million or higher, a figure that does not include the potential development of the club’s stadium, the Stadio Grande Torino. Any US investment group would likely require control of the stadium as part of any deal.
Torino’s most recent financial report, released in April, revealed a loss of €13.1 million for the 2023 fiscal year, following a profit of €10.4 million in 2022 which was boosted by player sales, including Alessandro Buongiorno and Wilfried Gnonto. Total debts have increased over the past year, rising from €129.9 million to €160.5 million. Financial debts currently stand at €52.3 million.
When considering a potential sale price, the club’s debts would typically be deducted from its overall valuation. However, Torino holds approximately €14.4 million in cash deposits, which could offset some of the debt. Factoring in these figures, Cairo could potentially net a minimum of €210 million from a sale, assuming a valuation of €250 million. The situation is fluid, and a definitive price will depend on negotiations and the motivations of any prospective buyer. The future of the club hinges on Cairo’s willingness to compromise on his valuation and the emergence of a serious bidder.
