American investment group Clara Vista has purchased Italian football club Frosinone which will return to Serie A next season, club owner and president Maurizio Stirpe announced on Wednesday.
"Following this transaction, Clara Vista will control 80 per cent of the capital, and I will hold the remaining 20 per cent," Stirpe, who has been at the helm of the club from the Lazio region, southeast of Rome, since 2003, told a press conference.
Clara Vista, already owners of English club Ipswich Town, who have been promoted to the Premier League, will pay €41.5 million to take control of Frosinone.
The club is preparing to play in the top flight for the fourth time after finishing second in Serie B last season.
Of the 20 clubs competing in the upcoming Serie A season, 12 are foreign-owned, including nine under US ownership.