President Giulini remains in control as American-backed investors strengthen minority position and support stadium project
A significant ownership development has reshaped the corporate structure of Cagliari. U.S.-based investment fund Praxis now holds 49% of the club’s shares, reinforcing its presence while leaving overall control in the hands of president Tommaso Giulini.
The move comes after Fluorsid Group — the holding company tied to Giulini — finalized the sale of an additional 29% stake, increasing the minority shareholders’ total to just under half of the club’s capital.
Strategic Growth, Not a Change of Control
Despite the strengthened minority position, the club emphasized continuity in leadership and management. Giulini remains the majority shareholder, and there is no shift in operational command.
According to the official statement, the transaction is part of a broader “growth and strategic development path,” consolidating a partnership built on a shared industrial vision. The deal is designed to support long-term structural, financial, and organizational development.
Stadium Project at the Core
One of the key pillars of the investment is the new stadium initiative, a central objective for Cagliari’s future. The collaboration with Praxis aims to accelerate infrastructure modernization and reinforce the club’s assets both on and off the pitch.
The investment group includes Maurizio Fiori and Prashant Gupta. Fiori, a Sardinian native who moved to the United States in 1990, previously described his involvement as deeply personal.
“For me, this is not just an investment,” Fiori said in November after acquiring an initial minority stake. “It’s a privilege and a responsibility. As a proud Sardinian, this moment carries profound meaning. Cagliari represents resilience, passion, and identity — values shared by Sardinians around the world.”
A Growing American Footprint in Serie A
Cagliari’s ownership shift reflects a broader trend of American investment across Italian football, with U.S. capital increasingly shaping the future of Serie A clubs.
For Cagliari, however, the message is stability with ambition: stronger financial backing, continued leadership under Giulini, and a long-term vision centered on infrastructure and sustainable growth.
