Sergio Cragnotti
Encyclopedia
Sergio Cragnotti is an Italian
entrepreneur and author.
One of the most high-profile and wealthy business figures in Italy in recent times, Cragnotti is best known for having been President of S.S. Lazio
. However, his most influential position was as head of food conglomerate Cirio
. This company included all Cirio food brands as well as those of the acquired Del Monte Foods International from the late 1990s. In 1992 Cragnotti bought football team S.S. Lazio from previous owner Calleri. In December 1993, the Ontario Securities Commission
fined him for insider trading
. The Cragnotti family owned 80% of the Cirio group which in turn owned a 51% stake in the Roman club. In 2002, the Cirio company declared default
on its bonds. The default cost about 1.125 million euros to a plethora of small investors, most of them Italian.
Cragnotti presided over perhaps the most successful period in Lazio's recent history, plowing in record amounts of money which attracted such luminaries as Pavel Nedvěd
, Christian Vieri
and Marcelo Salas
. His successes included winning both Serie A
along with the final European Cup Winners' Cup, both under the guidance of close friend, Sven-Göran Eriksson
.
In November 2006 he published his autobiography, titled Un calcio al cuore, co-written with Fabrizio Pennacchia.
On March 2 2011 the public prosecutor for the Cirio bankruptcy
asks 15 years of prison for Sergio Cragnotti, 8 years for his sons Andrea Cragnotti e Elisabetta Cragnotti, 6 years for his wife Flora Pizzichemi Cragnotti and his son Massimo Cragnotti.
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
entrepreneur and author.
One of the most high-profile and wealthy business figures in Italy in recent times, Cragnotti is best known for having been President of S.S. Lazio
S.S. Lazio
Società Sportiva Lazio, commonly referred to as Lazio, is a professional Italian football club based in Rome. The team, founded in 1900, play in the Serie A and have spent most of their history in the top tier of Italian football...
. However, his most influential position was as head of food conglomerate Cirio
Cirio
Cirio S.p.A. is a major Italian food company.It was founded in 1856 in Turin, Italy....
. This company included all Cirio food brands as well as those of the acquired Del Monte Foods International from the late 1990s. In 1992 Cragnotti bought football team S.S. Lazio from previous owner Calleri. In December 1993, the Ontario Securities Commission
Ontario Securities Commission
The Ontario Securities Commission is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario...
fined him for insider trading
Insider trading
Insider trading is the trading of a corporation's stock or other securities by individuals with potential access to non-public information about the company...
. The Cragnotti family owned 80% of the Cirio group which in turn owned a 51% stake in the Roman club. In 2002, the Cirio company declared default
Default
Default may refer to:*Default , the failure to do something required by law**Default judgment*Default , failure to satisfy the terms of a loan obligation or to pay back a loan*Default , a preset setting or value...
on its bonds. The default cost about 1.125 million euros to a plethora of small investors, most of them Italian.
Cragnotti presided over perhaps the most successful period in Lazio's recent history, plowing in record amounts of money which attracted such luminaries as Pavel Nedvěd
Pavel Nedved
Pavel Nedvěd is a retired Czech football midfielder. He is one of the most successful Czech players to emerge from the newly formed Czech Republic, winning numerous accolades with Lazio and Juventus, including the last ever Cup Winners' Cup...
, Christian Vieri
Christian Vieri
Christian Vieri is a retired Italian footballer who played as a centre forward.Vieri was named in the FIFA 100, a list of the 125 greatest living footballers selected by Pelé as a part of FIFA's centenary celebrations...
and Marcelo Salas
Marcelo Salas
José Marcelo Salas Melinao , better known as El Matador, Shileno or simply Marcelo Salas, is a former football player from Chile. He, along with world cup veterans, 3 time Best Player of America Elías Figueroa and former Real Madrid and Inter Milan forward Iván Zamorano, has been one of Chile's...
. His successes included winning both Serie A
Serie A
Serie A , now called Serie A TIM due to sponsorship by Telecom Italia, is a professional league competition for football clubs located at the top of the Italian football league system and has been operating for over eighty years since 1929. It had been organized by Lega Calcio until 2010, but a new...
along with the final European Cup Winners' Cup, both under the guidance of close friend, Sven-Göran Eriksson
Sven-Göran Eriksson
Sven-Göran Eriksson , in Sweden commonly referred to just by his nickname Svennis, is a Swedish ex-football manager. From October 2010 to October 2011 he managed Football League Championship side Leicester City....
.
In November 2006 he published his autobiography, titled Un calcio al cuore, co-written with Fabrizio Pennacchia.
On March 2 2011 the public prosecutor for the Cirio bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
asks 15 years of prison for Sergio Cragnotti, 8 years for his sons Andrea Cragnotti e Elisabetta Cragnotti, 6 years for his wife Flora Pizzichemi Cragnotti and his son Massimo Cragnotti.