Mario Gabelli, the renowned Italian-American financier and founder of Gamco Investors, has expressed interest in acquiring AC Monza, potentially becoming the latest American investor in Italian football. The 82-year-old Wall Street veteran, known for his shrewd investment strategies, sees Monza as an attractive prospect for his fund, as he explained to La Gazzetta dello Sport.
Gabelli’s Interest in Monza
Alec Boccanfuso, a sports investment analyst at Gamco since 2018, has been spearheading the project. He explained, “I produced a report on European football for a potential investment. After extensive research on the Italian market, we identified Monza as the perfect target and subsequently made contact with Fininvest.”
Gabelli himself commented on the potential acquisition: “It’s a very interesting project that’s in the hands of a young analyst I trust greatly, Alec Boccanfuso. We usually don’t invest in private companies, preferring those listed on the stock exchange, but in this case, we think it could be a good opportunity. However, it’s a fund project that won’t see me as the main protagonist.”
Sports Investments and Strategy
When asked about the importance of sports investments for Gamco, Gabelli stated:
“Sports remain a very important chapter for the group. Our fund has shares in teams like the Knicks and Yankees, investments in the Atlanta Braves, as well as shares in Manchester United. We work particularly with media companies, but with our 3,500 analysts around the world, we also pay special attention to sports investments.”
Potential Rivalry and Italian Connections
Addressing the possibility of competing with other American investors in Italian football, particularly Gerry Cardinale of AC Milan, Gabelli clarified:
“I understand the question, but I must say there’s no rivalry between Cardinale and me. On the contrary, I think we’re on the same side and want to act in the group’s best interest. However, I have to defend my investors’ position and secure the best possible deal for them.”
Gabelli also spoke about his deep connection to Italy:
“It’s a country I love, where my parents were born, and it holds a special place in my heart. I’m part of several Italian-American organizations and foundations. I was even the Grand Marshal of the Columbus Day Parade in 2012. With Gamco, we had plans to buy a building in Milan and create our own headquarters, a project that didn’t materialize. Now, let’s see what happens with Monza.”
