On 16 July 2010, Buffon became a share-holding partner of his hometown club Carrarese; he initially owned 50% of the club's shares, along with Cristiano Lucarelli and Maurizio Mian. On 10 June 2011, he acquired an additional 20% of the club's shares. On 6 July 2012, Buffon become the sole shareholder of Carrarese through his family's company, Buffon & co. In May 2015, Buffon stated that he would be stepping down from his position as the owner of Carrarese at the end of the 2014–15 season; in July, he sold 70% of Carrarese's shares to the Italian real estate developer Raffaele Tartaglia, who took control of the club, although Buffon still remained with the club as a minority shareholder. After continuing to struggle with financial difficulties, the club officially declared bankruptcy on 11 March 2016.