Andrea Radrizzani has sold part of his shares to fellow MP & Silva co-founder Riccardo Silva as part of a restructuring process at the agency.
The two businessmen co-founded MP & Silva in 2004, but speculation has been rife for more than a year that Radrizzani (left of picture) was going to split from Silva (right of picture) and launch his own business.
This has since developed with the formation of new international pay-television operator Eleven Sports Network, which Radrizzani leads.
MP & Silva said today (Tuesday) that following the restructuring, Silva is president and now majority shareholder of the MP & Silva Group, while Radrizzani will remain a shareholder through his holding of investments, without being involved in management and operations.
MP & Silva added that Radrizzani is “focusing his activity and resources” in Eleven Sports Network.