There are no half measures when it comes to Aurelio De Laurentiis: People either love him or hate him. He is equally uncompromising in soccer, where he has been a central figure in Italian football since the early 2000s. He rescued Napoli from bankruptcy and gradually turned the club into one of Italy’s elite teams. Its two Serie A titles mark the high points of an era that began on Sept. 6, 2004, when De Laurentiis acquired the club’s sporting rights through bankruptcy proceedings.

But even the De Laurentiis era may one day end. For months, Napoli owner Aurelio De Laurentiis has been considering a serious takeover bid from Matt Rizzetta, an Italian American businessman based in New York. De Laurentiis has alternated between resisting a sale and leaving the door open, while drawing one firm line that has slowed negotiations: Napoli might be sold, but his continued involvement in running the club appears nonnegotiable.

De Laurentiis outlined the state of the talks in an extended interview with Radio Kiss Kiss, Napoli’s official radio station. His remarks also sought to address speculation following a face-to-face meeting with Rizzetta on Tuesday evening.

De Laurentiis’ Position

“Napoli is not for sale, and if I were to sell it, I would prefer to sell it to someone from Naples,” De Laurentiis said at the outset. But his position comes with some important qualifications.

“In the past, the Saudis offered me €3.5 billion, but I didn’t want to retire. I still know how to make movies, and as for soccer — which I didn’t know how to do at first — I’ve learned, despite a thousand difficulties. Soccer is outdated and needs to be rethought and freed from the control of people who don’t own teams but dictate how things are done day after day.”

He then explained how his relationship with Rizzetta began.

“About a year ago, I received a meeting request from Matt Rizzetta, whom I didn’t know. Out of courtesy, I replied. He introduced me to a couple of investment funds he represented. They wanted to buy Napoli. This happened between February and March of last year. We put their lawyers in touch with ours. We wanted to conduct an assessment to understand what was behind the proposal, through due diligence that never actually began,” De Laurentiis said.

He also described the terms of a potential deal that could now be back on the table, following a series of advances and setbacks.

“They wanted to pay part of the €2 billion at signing and the rest over the following three years. Initially, I was told I would continue managing the club, but then my role would be reduced until I eventually became honorary chairman. I asked for guarantees that the work I’ve done over 22 years would continue. I had a duty to Napoli fans around the world. Money matters, but it’s the last thing on my mind.

“Matt Rizzetta told me he had two or three investment funds backing him, but part of the €2 billion would be paid over several years rather than upfront.”

Where Things Stand

Taken together, De Laurentiis’ account suggests that Rizzetta presented a potential offer backed by two American investment funds between February and March of last year. The proposed valuation reportedly reached €2.26 billion.

Several unresolved issues, however, kept the negotiations from gaining momentum. De Laurentiis wants to remain a central figure in the club’s leadership over the long term, rather than simply oversee a transition. The stadium is another point of contention: De Laurentiis favors building a new facility from scratch, while Rizzetta prefers renovating the Diego Armando Maradona Stadium. Payment terms and the €20 million reportedly needed to begin due diligence also became stumbling blocks.

Rizzetta has now returned with a new proposal, reportedly lower than the original, starting at €1.3 billion and involving an immediate reduction in De Laurentiis’ role.

Despite the renewed interest, a deal remains far from certain, with significant obstacles still standing in Rizzetta’s way.

Rizzetta’s Plan

Who is Matt Rizzetta? Born in New York in 1982, the Italian American entrepreneur has spent years investing in Italian sports, with a particular focus on the south of the country.

With family roots in Puglia, Calabria and Sicily, Rizzetta works with a network of investors through companies including North Sixth Group and Underdog Global, which he has used as a vehicle for sports investments. His strategy is to target clubs and markets whose potential remains largely untapped.

His first major investment came five years ago, when he acquired Campobasso. Under his involvement, the club climbed from the regional amateur ranks to Serie C, Italy’s third tier. The project also became the subject of a television series for ESPN in the United States.

That was only the beginning. A year ago, Rizzetta expanded into Naples’ sports scene by acquiring a 67% stake in Napoli Basket, the city’s professional basketball club. His ambition is to build a multisport organization modeled on Spanish clubs, potentially expanding into water polo and volleyball.

But soccer remains the biggest prize for Rizzetta and his investors. The pursuit of Napoli is underway and could continue, though not indefinitely. Napoli is the dream, but alternative investment opportunities elsewhere in Italy are unlikely to be in short supply.