After yesterday's shareholders' meeting, Virtus Bologna is even more under the control of current majority owner Massimo Zanetti, who has been elected as the new president of the club.
The Italian entrepreneur, who currently holds 40% of the shares of the club, is set to increase his control over Virtus. A capital increase of 2 million euros has been launched and Massimo Zanetti's 40% will go up.
The new capital increase will serve mostly to cover the financial losses of last season, around 3.5 million euros, mostly related to the absence of fans in the stands due to Covid-19 restrictions.
Virtus Bologna started the Eurocup season with two wins and so far has lost only one game in the Italian Serie A.
The ownership of Massimo Zanetti is a very ambitious one and his main desire is to bring back the club in Euroleague.
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