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Commisso finalizes Cosmos purchase; Savarese to return in 2017

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Just several weeks ago, the New York Cosmos appeared to be all but dead once again. Now, with a new owner set to step in, the Cosmos are poised to compete in 2017.

The Cosmos announced on Monday that Rocco Commisso has purchased a majority ownership stake in the club. Commisso is the Chairman and CEO of Mediacom Communications Corporation, a company with annual revenues exceeding $1.8 billion.

In addition to the announcement, the Cosmos also confirmed that head coach Giovanni Savarese will return in 2017.

“Like so many of our fantastic fans, I have followed the Cosmos since the fabulous days of Pelé, Chinaglia, Alberto, and Beckenbauer,” said Rocco Commisso. “With my deep roots in the New York City area as a former player, youth coach, and proud supporter of the Columbia University soccer program, I look forward to building on the rich history of America’s most iconic soccer club.”

After moving to the U.S. from Italy at 12 years old, Commisso played soccer for Columbia University from 1967 to 1970 and has since become one of the program’s biggest supporters. The school’s soccer stadium was renamed the Rocco B. Commisso Soccer Stadium while Commisso was enshrined in the Class of the Columbia Athletics Hall of Fame this past October.

“We’ve worked hard to secure a positive future for the club and Rocco is the perfect person to lead the continued renaissance,” said Seamus O’Brien, outgoing Chairman of the Cosmos ownership group. “He is not only extremely knowledgeable about the beautiful game as it is played worldwide, but brings extensive entrepreneurial experience in the media and communications business to the organization.”

7 comments
  • Quit Whining About Soccer in the US

    What a bizarre purchase. Like buying the kitchen and living room on the Titanic as it goes down.

    Like

    • The Imperative Voice

      I think if they run the teams like vanity projects on minor league economics they are bound to have the teams either fold or have to be bought and rebought every few years.

      I’d be interested if this was an asset or stock purchase. In either case I’d be interested if it was more than the proverbial $1, particularly if they take on the team’s debt.

      If NASL really wanted to survive, it would back off, let USL consolidate, drop to 3rd division, and fill in a niche USL doesn’t already (and with MLS backing). Maybe even suspend the league a year or two. Definitely not fight so hard to keep a third pro team in NY that is not going to succeed. But since their strategy seems so intent on optics, second division, Cosmos, etc., yeah, moving around the deck chairs on the Titanic.

      Like

      • jus sayin'

        From a realistic perspective, perhaps but… considering a year ago they were boasting/had aspirations of their superior league philosophy slingshotting them to Top League status, Div 3 is an enormous bite of humble Shiite pie to consume and sell to investors.

        Like

    • SilverRey

      Well according to Bill Peterson NASL is going to have 20 teams by 2020. Oh wait, he no longer runs NASL…

      Like

  • TheFrenchOne

    “Just several weeks ago, the New York Cosmos appeared to be all but dead once again. Now, with a new owner set to step in, the Cosmos are poised to compete in 2017.”

    They may play in 2017, but they’re dead alright. This is just delaying the inevitable…

    Like

  • johnnyrazor

    Your Cosmos game will be played on Saturday, the match will start between the hours of 12 and 4.

    Like

  • two cents / lowercase letters guy

    this makes me want to watch a disney pixar film, feel the magic, and then really believe that this can happen.

    Like

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