Serie B: AS Bari purchased for €4.8m by former manager Gianluca Paparesta; become FC Bari 1908

The sports company AS Bari (Serie B, Italian second division) was purchased for €4.8m on 20/05/2014 by Italian Gianluca Paparesta, who was manager of the team from 08/10/2013 to 20/02/2014 and who was an international referee.

It was the third time the club had been offered for auction, and the starting price was €2m. Paparesta made the winning offer of €4.8m with as-yet-unknown investors. Three other Italians made offers, but for lesser amounts.

The two previous offers at auction had not resulted in a successful sale. At the first auction, on 18/04/2014, the initial bid was €4.3m, and only Paparesta, along with Indian investors, made an offer. That offer was not accepted due to missing documents and an insufficient bid (of €3m instead of the €4.3m required). No offer was made at the second auction on 12/05/2014 (minimum bid: €3.5m).

"I'm happy for Bari and for their fans; the fans deserve this. I have many plans for this city and the fans who are still loyal to the club, even in Serie B," said Gianluca Paparesta after the sale, on 20/05/2014.

AS Bari is now renamed Football Club…