Matt Rizzetta of investment firm North Sixth Group is leading a group that will buy a majority stake in Italian basketball team Napoli Basketball, Front Office Sports has learned, a move that comes as U.S. and other money has been pouring into European basketball.

The deal is expected to close “imminently,” a source familiar with the situation tells FOS. The new ownership group will take effect at the end of the current season, which ends next month. Financial details were not available. Rizzetta confirmed to FOS the two sides are in negotiations.