Siena Calcio reject €1.3m takeover bid from Joseph Portelli

Ħamrun Spartans president Joseph Portelli has failed in his initial attempt to acquire Italian side Siena Calcio after the Serie D club rejected a takeover bid made by his JP Portelli Group.

According to a report by Gazzetta di Siena, the Maltese businessman submitted an offer of €1.3 million to take control of the club, which was turned down by Siena’s owners. The report said Portelli had initially tabled a €1 million bid for full ownership, before increasing the offer in an attempt to persuade the club’s top administration.

Despite the rejection, negotiations may not be over. Italian media reported that discussions could continue and did not rule out a third bid, potentially rising to €1.5 million.

Siena Calcio president Jonas Bodin, a Swedish businessman, is reportedly not interested in selling the club outright but would be open to bringing in new partners to strengthen its financial position.

A separate report by Gazzetta di Sicilia described Portelli’s proposal as a serious sporting project, aimed at providing long-term financial stability and a clear technical plan for a club that has struggled in recent years.

Portelli, a prominent Maltese construction magnate, is said to be particularly interested in investing in Siena’s youth sector, with the long-term goal of helping the club climb the Italian football pyramid. According to the report, his ambition is to one day guide an Italian team from the lower divisions to Serie A.

Portelli is already well known in Maltese football as the president of Ħamrun Spartans, one of the country’s most successful clubs in recent years.