July 19, 2011
Italian press is reporting today that two entrepreneurs from Milan, Sandro Capotosti (a former bank chairman) and Ruggeromassimo Jannuzzelli (not a typo), have successfully purchased the right to operate the assets of Moto Morini through a bankruptcy auction for the sum of 1,960,000 euros (equivalent to $2,775,000 U.S.). They have formed the entity Eagle Bike Company to operate Moto Morini. Like many Italian business ventures, this purchase was driven, in part, by emotion as Capotosti stated after successfully bidding at the auction that his love of the brand grew out of his experience riding Morini bikes as a young man, including the old Scrambler model. Indeed, the brand has a strong, emotional pull on countless Italian two-wheel enthusiasts, including the brother of Italian Prime Minister Silvio Berlusconi, who unsuccessfully bid for the company last year.