The 20 clubs from Italian men's soccer’s Serie A top-flight have approved the league’s acquisition of a 51% stake in fantasy soccer gaming platform Fantacalcio.
Totalling €18 million ($21.3 million), this investment values Fantacalcio at over $40 million, with funding coming from a loan that will be repaid with the proceeds from the Fantacalcio business itself.
The current owners of Fantacalcio, businessmen Nino Ragosta and Luigi Cutolo, will remain in charge of the business, although Serie A will now hold a controlling stake.
Fantacalcio has a user base of around 3 million members, and generated revenue of over €9 million (with profit of over €4 million) in the 2025 fiscal year, thanks to a burgeoning advertising interest in the fantasy gaming industry, as well as many subscribers to its €12-per-year premium tier.
User numbers surrounding the app vary in the media, with reports ranging from as few as 3 million, to as many as 7 million.
The vote to approve the investment passed with 15 teams in favour, three against, and two teams abstaining from voting.
Como, Fiorentina, and reigning champions Napoli were the three sides that voted against the deal, ostensibly due to their perception of the acquisition price being too high. Roma and Cremonese were the two abstentions.
Despite the opposition, Serie A chief president Ezio Simonelli commented: “It was a very calm meeting. We made a series of decisions, including purchasing a majority stake in Fantacalcio, so we can enhance it with our images and create an increasingly attractive product.”
Already, the game has attracted branding sponsorships from prominent companies such as Italian financial services firm Eni and Bancomat, both of which are invested in the Italian soccer landscape through tie-ups with Serie A itself, as well as fast-food giant McDonald’s.
The acquisition has been pushed by Serie A chief executive Luigi De Siervo and, although Fantacalcio has knocked back private equity investment in the past, the brand synergies between the fantasy football platform and the league that is its subject have made this process far smoother.
