Sponsorship of football and other sports has always been controversial, and it is not surprising that the sponsorship of sports by gambling companies is heavily discussed and scrutinized. However, a report by the Financial Times quotes an employee from a well-known Italian bank, a senior executive at Banca Monte dei Paschi di Siena, saying, "When we withdrew our sponsorship from the football and basketball teams, we received death threats."
AC Siena Football Sponsorship
Banca Monte dei Paschi di Siena began sponsoring the Italian football club AC Siena in 2007. This partnership lasted until 2013, during which the bank's logo was prominently displayed on the team's jerseys and other promotional materials. Financial support from MPS helped AC Siena compete at a higher level, attracting better players and improving the club's infrastructure.
Sponsorship of Sana Basket Siena Basketball
In basketball, Banca Monte dei Paschi di Siena sponsored the Mens Sana Basket Siena team, also known as Montepaschi Siena. This collaboration started in 2000 and continued until 2014. This period marked the golden era of the team, which won multiple Italian championships and gained significant recognition in European competitions.
Financial support from MPS was crucial in building a team that dominated the Italian basketball scene, winning the Italian A1 League championship five times consecutively from 2007 to 2011. This sponsorship also helped the team acquire top talent and improve training facilities, contributing to the team's ongoing success.
Financial Times Feature on Banca Monte dei Paschi di Siena
Today, the Financial Times published a detailed article about the world's oldest bank—Banca Monte dei Paschi di Siena SpA.
The bank, headquartered in Siena, explores the rich history and recent developments of this long-standing institution. Founded in 1472, Banca Monte dei Paschi di Siena has weathered countless economic storms and controversies, still playing an active role in Italy's financial sector.
The death of David Rossi is one of the most controversial and tragic events in the history of Banca Monte dei Paschi di Siena. On March 6, 2013, he was found dead beneath an open window at the bank's headquarters in Siena. Initially ruled a suicide, his death has always been surrounded by doubt and controversy.
David Rossi's body was discovered below his office window at the historic MPS headquarters, Rocca Salimbeni. Reportedly, due to ongoing investigations into the bank's financial status, David Rossi was under immense pressure. The initial conclusion of suicide was quickly questioned due to several inconsistencies and unresolved mysteries. Surveillance footage showed a man walking past his body shortly after David Rossi fell, raising doubts about the initial conclusion and suggesting there might be more to the story.
In 2022, new evidence prompted authorities to re-investigate the case. This included video footage suggesting that David Rossi's death might not have been a suicide. This case remains one of the most mysterious and controversial events in the bank's history, highlighting the immense pressures and complexities MPS faced during the financial crisis. The ongoing investigation and public interest keep this case in the public eye.
As of this year, Banca Monte dei Paschi di Siena is undergoing significant restructuring. The bank has been committed to improving its financial health and stability after facing severe financial difficulties over the past decade. Recent efforts focus on reducing the cost-income ratio, improving asset quality, and enhancing profitability. MPS has successfully issued several bonds and improved its credit rating. Additionally, the bank has committed to further asset sales and capital increases to meet regulatory requirements and ensure investor confidence. These efforts are part of an overall strategy to ensure long-term sustainable development and growth.
