Serie A: Mapei group to acquire Reggio Emilia's Mapei Stadium for €3.65 million

The Mapei Stadium "Città del Tricolore" (20,000 seats), Reggio Emilia's (ITA) stadium has been acquired by the Mapei Group, the owners of Sassuolo Calcio (Serie A), after a public bid in Reggio Emilia on the 05/12/2013.

The Mapei Stadium is home to Sassuolo and Reggiana (the Reggio Emilia club, Serie C1, the Italian third division) in 2013-14. The offer by Giorgio Squinzi, owner of both Sassuolo and the Mapei Group, of €3.65m, has been accepted. The offer was over 100,000 euro more than the Football Properties Srl company's, which is owned by Alessandro Barilli, the president of Reggiana.

However, Italian law allows Allessandro Barilli to offer a higher bid by the 15/12/2013 for the stadium located in the Emilia Romagna region. For this, the offer must be 10% higher than Mapei's, meaning at least €4m.

Mapei want to modernise the stadium to accommodate multiple events and Italian U-21 matches. "This auction proves the owners want to lay down roots in the territory and is part of a strategic project that began over the summer," said Giovanni Carnevali, CEO of Mapei.

• Mapei won the…