by InTrieste
Pallacanestro Trieste, the storied basketball team recently promoted to Italy’s top league, Serie A, has entered a new chapter under the leadership of American business manager Paul Matiasic, who has become the club’s owner and President of the Board of Directors.
Matiasic, a San Francisco-based entrepreneur with family ties to the region, completed his acquisition of Cotogna Sports Group (CSG) and its subsidiaries, including Pallacanestro Trieste, marking a significant shift in the team’s ownership and future direction.
The acquisition, finalized in recent days, sees Matiasic assuming control of 100 percent of CSG’s shares, a process that began in earnest last year when Matiasic was invited to invest in the team and join its board. Over time, Matiasic’s involvement deepened, culminating in his purchase of all controlling shares of CSG and its Italian affiliates, including Pallacanestro Trieste 2004.
“I had several opportunities to buy ownership stakes in other teams in Italy,” Matiasic said in a statement, “but I chose Trieste for its economic and cultural vitality, and for my personal connection to the region.”
Matiasic’s takeover comes at a pivotal moment for Pallacanestro Trieste, which recently secured its return to Serie A, the pinnacle of Italian basketball. The new owner has expressed a commitment to focusing exclusively on the team’s development, both on and off the court.
“CSG was originally conceived to operate in a broader sports market,” Matiasic explained, “but my focus today is exclusively on Pallacanestro Trieste. The team’s promotion to Serie A has accelerated our plans, and I’m dedicated to leading the club to new heights.”
Matiasic’s influence has already been felt in the club’s recent decisions, including his collaboration with General Manager Michael Arcieri during the summer transfer window. Together, they shaped the team’s roster in preparation for the 2024-25 season, including adopting a 6+6 roster structure, a configuration that balances Italian and foreign players.
The new governance structure sees Matiasic at the helm, supported by Arcieri and Connor Barwin, who will remain on the Board of Directors. Matiasic hinted at further additions to the board, aimed at bolstering the club’s competitive edge in both sports and business.
The change in ownership has been met with optimism by outgoing CSG President Richard de Meo, who led the group’s acquisition of the team two years ago. De Meo, who will remain an investor, praised Matiasic’s vision and leadership.
“Paul became interested in our project when CSG acquired the team,” de Meo said. “We always thought he would be a great addition to the group. His deep knowledge of the game, his passion for basketball, and his entrepreneurial ability make him the right person to lead Pallacanestro Trieste into a new era.”
De Meo acknowledged that the decision to step back from a leadership role was driven by a desire for a more streamlined ownership and governance structure. He expressed confidence in Matiasic’s ability to guide the club to further success, both on and off the court.
“The strength of the club and the timing of our promotion to Serie A make this the right moment for transition,” de Meo added. “We are pleased to have brought Pallacanestro Trieste back to where it belongs.”
Matiasic’s ties to the region, combined with his business acumen and love for the sport, have raised expectations among the team’s supporters. As the club prepares for its first season back in Serie A, fans in Trieste are hopeful that Matiasic’s leadership will usher in a new era of success for their beloved team.
