From Singapore to Sampdoria: The low-profile businessman hoping to rescue a sleeping Italian football giant

SINGAPORE: If he had his way, Singaporean businessman Joseph Tey would just fly under the radar.

A private person by nature, the 52-year-old prefers to enjoy his bak kut teh or pork rib soup in peace back home.

But thousands of kilometres away in the Italian port city of Genoa, Tey is starting to draw attention.

It comes with the territory - after all, he's now a majority shareholder and one of the owners of storied Italian football club Sampdoria.

His goal is to revive the flagging fortunes of the side, now in the second-tier Serie B, and get them back in the top flight. But first, he has to ensure they don't plummet any further down the ladder.

A HISTORIC CLUB; A BUSINESS DECISION

Sampdoria, nicknamed I Blucerchiati or "the blue-circled" due to their jersey design, were among the best teams in Europe a few decades ago.

They lifted the Coppa Italia four times in the space of about ten years, won the Scudetto championship in 1991, and reached the European Cup final the next season, losing 1-0 to Barcelona.

In the years since, the club has had struggles both on the pitch and financially.

After 11 years in the top flight, they were relegated to Serie B at the end of the 2022/23 season; and were on the brink of bankruptcy before former Leeds United owner Andrea Radrizzani and London-based financier Matteo Manfredi swooped in through their Gestio Capital asset management fund.

Tey told CNA he was made aware of the opportunity to get involved with Sampdoria around then, after learning that Radrizzani and Manfredi had taken over the club.

A serial entrepreneur, the Singaporean started out in banking before going on to build and invest in businesses across industries including real estate and biopharma.

"I had a common friend who knew Radrizzani and I called him and said: 'Can you arrange for me to discuss (this) with them?" Tey recalled.

"Sampdoria has its history; has its good fanbase; has the great players (Gianluca) Vialli, (Roberto) Mancini; has won the Scudetto before. I thought it's interesting and there's an opportunity. Why don't I call them and see whether they are interested?"

After an initial conversation with Manfredi, Tey met the duo for the first time about a month later.

Radrizzani has had ties to Singapore - specifically with sports marketing firm MP & Silva, which opened its headquarters here in 2007. The company was eventually ordered by the UK High Court of Justice to wind up in 2018.

"I'm a businessman ... I do my own checks and I make my own calls on that stuff," said Tey.

Even though he considered himself a long-time admirer of Sampdoria, getting involved was also a business consideration.

The fact that the club's debt was already restructured aided his eventual decision, said Tey.

"The (risk-reward return) is very high when you get from (Serie) B to A ... if you can make it happen, the reward is going to be great, but the risk can be significant," he added.

"I would not go in if I don't think it was going to be profitable."

Click here to read article