Italian entrepreneur Tommaso Giulini has acquired full ownership of Italian soccer league side Cagliari, the Sardinia club said on Wednesday.
Giulini, the CEO of the chemical company Fluorsid Group, reportedly paid 48 million euros ($A72 million) to Massimo Cellino, a Cagliari-born farming entrepreneur.
Cellino, who ran the Serie A club for 22 years, this year acquired English second division club Leeds United.
In May, Cellino seemed close to selling the club to a group of American investors for about 80 million euros ($A120 million), but he said negotiations stalled and last week began considering a previous offer from Giulini.
"I thank Cellino for his confidence," Giulini said. "It is never easy to sell such an important part of your life."
Giulini, whose company operates a plant in Cagliari, says he will soon address issues regarding the team and its coach, sponsorship and stadium.
Local authorities recently paved the way for the renovation of the Snat'Elia stadium, where access was limited to only 5000 fans in the past season due to bureaucratic and safety matters. The facility should be fitted to seat 16,000 people.
The Sardinian side finished the past season in 15th position, seven points clear of the drop zone.
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