Since he is the current CEO of the Cincinnati Reds, it should come as no surprise to learn that Castellini is a huge fan of the baseball team. He even served as a member of the Commonwealth Club, the Young Presidents Organization. The record of past losing and our loss didnt factor into their plans. Even though I had saved up and brought a lot of money with me, I was competing against a different league of spender. Bob is a phenomenal celebrity influencer. Wealth has no correlation with ones value as a human being, but this puts Bob and Phil in a context that we (or at least I!) He has made himself known for the implementation of cost-cutting measures in the team. After the 2005 season, Cincinnati Reds hired Bob Castellinis son, Phil Castellini, as the Senior Director of Business Operations of the team. Let's dig in on the "sell the team to who?" Besides enormous wealth, Bob has also made a huge name for himself in the sports world, and as a result, people want to know about his personal life, especially his marital life and kids. Fans of the Cincinnati Reds deserve so, so much better than this. I'm not polishing trophies in the office right now, and that's what we're here to do. They've gone 2-9 in playoff games. And the 2022 season could have been that. Reds Content Plus 2023. }); window._taboola = window._taboola || []; If you retroactively split the $67 million the Reds are saving in 2023 across both of those years, youd see an average operating income of about $10 million, which is more in line with what Reds ownership has experienced since buying the team. Castellini, also the team's chief operating officer, is a son of Reds chief executive officer Bob Castellini, the team's controlling owner since January 2006. The average MLB owner has a net worth almost 9 times larger than Bob Castellini. According to Forbes, Jim Crane is worth $1.4 billion. When Williams suddenly departed, the Castellinis father and son made sure they would confront no more leaders who would challenge them. Ted Lerner turned a $250 loan he took out in 1952 into a real estate empire. pic.twitter.com/GwA4Z6zURY. One who wouldnt bang on the owners door with demands or have the clout to pull it off if he did. Even national writers are joining the #SellTheTeamBob movement. Primarily, people will recognize him because of his role as the CEO as well as one of the owners of the Cincinnati Reds, which is very much a personal passion for him. It has been estimated that the Castellini family owns somewhere between 15-20% of the team, with the remainder split among an ownership group comprised of 13 individuals and several companies and investment groups. mode: 'thumbnails-rr', Once he had graduated, Castellini went home to work at his familys business, which is called Castellini Co. At the time, Castellini Co. was not doing as well as it is now, which speaks well of Castellinis contributions to the family business over the course of his multi-decade career. Bob Castellini 's kid, Robert S. Castellini, was born in 1968. Shop Pay is an innovative payment solution developed by Shopify. Trust me, [general manager] Nick [Krall] is a guy on a mission. Furthermore, in addition to being proud parents, the businessman and his wife are loving grandparents of twelve grandchildren. Just like his professional career, Bobs marital life is also a huge success. Castellini currently works as the Managing Director at Wells Fargo Advisors. The blame for this betrayal lies squarely with Bob and Phil Castellini. Phil was engaged in civic activities in the community. After all, that is the cheapest way to build a team. }); window._taboola = window._taboola || []; Maybe. Bobs income mostly comes from and basic source is being a successful American Businessperson. Employee Anthony Davis is a professional basketball player who currently plays for the Los Angeles Lakers. He was also one of the trustees on the Cincinnati Parks Foundation Board. The, Read More 20 Things You Didnt Know about Fanatics Trading CardsContinue, Oprah Winfrey is a true American success story a real life rags to riches tale a la Horatio Alger. During his career, he has won Michael Jordan chose to celebrate his 60th birthday slightly early by donating $10 million to charity. Instead, Castellini laughs it up from his ivory tower. This looks like a win-win to me. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). In August 2014, police arrested him and his former wife, Deanna, for domestic violence. The family had piled into a van and took off for Florida, stopping for a few days at Disney World before cutting across the state to Sarasota, to enjoy the beaches and make Dad happy by seeing a . How Much Do These 30 Star Athletes Pay in Taxes? We're going to support the Redlegs whether the Castellini family is in charge or not, but at this point, we would rather drive them across the Brent Spence Bridge and send them out of Ohio ourselves. Nonetheless, we hope to learn more about Bob Castellinis son, Robert S. Castellini, in the coming days. In light of this, lets explore Castellinis time as the Reds owner and discuss if selling the team may be the best option for him. Heres a look at the richest owners in baseball and how they got enough money to actually buy a team. "And so be careful what you ask for. In 2013, MLB owners approved the naming of Paul Dolan, Lawrences son, as the primary control person of the team. In fact, they weren't businessmen at all. In addition, Bobs wife, Susan, gave birth to their three kids in many decades of their togetherness. Cincinnati has made the playoffs four times in 15 years, losing in the division series in 2010 and 2012 and the wild-card round in 2013 and 2020. From where, he graduated in 1990 with a Bachelor of Arts, Political Science. Here we are updating just estimated networth of Robert Castellini salary, income and assets. Like every major league team, the Reds took a financial hit in 2020 due to COVID, with Forbes estimating its operating income (a companys profit after deducting operating expenses) falling to -$47 million. The failure to produce a competing team is more than just a Castellini problem. His net worth is $2.5 billion. We can't expect perfect answers. Is The Chief Operating Officer For The Cincinnati Reds, Bob Castellinis Son Has Been Involved In Other Different Ventures, Interesting Facts About Jerry Reinsdorfs Son, Michael Andrew Reinsdorf. He also is chairman of Crane Worldwide Logistics. Asking the Castellini family about a frustrated fan base is beyond reasonable. Left to the whims of a family that has no idea what it is doing and is locked in a messy transition from father to son, the Reds have no discernable, coherent strategy. As mentioned earlier, Bob Castellini has been married to Susan Castellini, aka Susie Castellini, for several years now. "I apologize to Reds fans and regret the comments that I made earlier today," he said. As a Reds fan, though, I have no confidence in this groups ability to execute on this strategy. The same right of private ownership that gives the Castellinis the ability to do that also affords them insulation from accountability. He eventually bought out a company he worked for, expanded it, and then opened his own business, Liquid Investments. All Rights Reserved. Aside from the As, he also holds smaller shares in two soccer teams. Shaquille O'Neal's Net Worth Net worth:$400 Kevin Durant is a star NBA player for the Phoenix Suns. An In-Depth Look at Naomi Girmas Salary in Professional Soccer. There can be no doubt now the Reds owners are satisfied with the mediocrity theyve hired in the front office and comfortable with not trying to finish first. We've tried a lot of things that didn't work. placement: 'Below Article Thumbnails 3rd', Bob Castellini serves as the CEO of Major League Baseball's . Later that same day, Castellini issued the following statement via The Athletic's C. Trent Rosecrans: "I apologize to Reds fans and regret the comments that I made earlier today. I think we're doing the best we can do with the resources that we have. Sign up for our daily newsletter for the latest financial news and trending topics. Theres no reason to trust anything that comes from Reds ownership or front office now. Methodology: For this piece, GOBankingRates used Forbes The Business Of Baseball 2022 data to find every MLB teams (1) owner name; (2) when the owner bought the team; (3) price the owner paid for the team; and (4) the team value in 2022. container: 'taboola-below-article-thumbnails-2nd', Bobs boy, Robert, lives a comfortable life with his wife and kids in Cincinnati, Ohio. Hes now the chairman of Trilogy Equity Partners, a private equity firm that specializes in early-stage wireless investments. According to Celebrity Net Worth, Bob Castellini is worth $400 million. As for Castellini Co.s line of business, interested individuals should know that it is a fruit and vegetable wholesaler. Tags: Bob CastelliniDick WilliamsHunter GreeneHyman RothJoey VottoJonathan IndiaJose BarreroNick CastellanosNick KrallPhil CastelliniTyler MahleTyler Stephenson. 20 Cities with the Worst Weather in the U.S. How Eiza Gonzalez Achieved a Net Worth of $5 Million, How Bebe Rexha Achieved a Net Worth of $10 Million, The 20 Worst Cities for Human Trafficking in the World. Davis got rich in the energy industry after founding pipeline company and natural gas distributor Energy Transfer in 1995. The vast net worth of Steve Cohen throws off the shape of the graph a little bit, so I also wanted to compare the Castellini net worth to that of the average and median MLB owner. Ever since Castellini bought the club, hes utterly failed to produce a competitive team, and in spite of promises to bring a championship to Cincinnati, there is a strong argument that the Reds have become the worst franchise in baseball. Born on September 23, 1941 in United States of America, Bob Castellini started his career as Businessperson . Castellini was one of only four owners who initially balked at the idea of increasing the luxury tax along with Detroit Tigers owner Chris Ilitch, Arizona Diamondbacks owner Ken Kendrick, and Los . Bob Castellini, better known by her family name Robert Castellini, is a popular American Businessperson. 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Or the team will be sold and moved. (adsbygoogle = window.adsbygoogle || []).push({}); Bob Castellini, born Robert Castellini, has been the CEO of Cincinnati Reds since 2006. Bench added later in the interview that he thinks Pitchcom technology is "cool." Patrick asked Bench what he thought about Castellini's response to fans insisting that his family sell the Reds . He has an economics degree from Georgetown University and an MBA from the Wharton School, Pennsylvania. Copyright 2017-2018 Free Articles by ecelebritymirror.com, All rights reserved. So, when he opted out of the final two years of his contract to earn more money, all those factors likely played a role in Castellanos . While that misery was ongoing, the Cincinnati Reds franchise increased in value by more than a half-billion dollars. mode: 'thumbnails-a', There can be no doubt now the Reds owners are satisfied with the mediocrity they've hired in the front office and comfortable with not trying to finish first. My experience at the auction is a metaphor for the current ownership of the Cincinnati Reds. Robert had 4 siblings: Albert David Castellini and 3 other siblings . (L-R) Nick Castellanos and Bob Castellini. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). As grown-ups, we remain in awe of the talents tangible and intangible of sports figures, particularly local ones we see all the time. With over 10 years experience he's covered businesses, CEOs, and investments. A double-edge sword that cuts the fans both ways. Bob Castellini is a businessman who comes from Cincinnati over in the state of Ohio. Bobs son, Phil, must be living a wonderful life with his wife, Britt Castellini. And most important, the players and fans have the chance of getting an owner who has the ability to compete for the top talent in todays game. In recent days, baseball fans were forced to bear witness to the limitless greed of baseball owners, as they locked us out and called into question the 2022 season, all in service of nothing more than the ultra-rich becoming wealthier. rhetorical, too, since he acted like there was no chance anyone else would lower themselves to owning the Reds. So I think we've learned from those things. From 2020-2021, however, they experienced an average loss of -$23 million (-$47 in 2020 and gaining $400,000 in 2021). Then, he worked at Sena Weller Rohs Williams for four years as an investment advisor. If the reaction of our friends and families is any indication, Reds ownership has shredded the team-fan relationship. These offers do not represent all deposit accounts available. I doubt it . Castellini's net worth ranks dead-last among all Major League Baseball principle owners. Over the course of his career, he has been involved at various times in the St. Louis Cardinals, the Texas Rangers, and the Baltimore Orioles. If I were the owner of the Reds (assuming a similar level of wealth), I likely would have reacted in similar fashion. But, we do hope to know more about Bob Castellinis son, Phil Castellini, in the coming days. placement: 'Right Rail Thumbnails', _taboola.push({ target_type: 'mix' Meanwhile, it should come as no surprise to learn that Castellini comes from the Italian peninsula. _taboola.push({ Get advice on achieving your financial goals and stay up to date on the day's top financial stories. In other words, I did not belong with this group. Its a fun hobby, curating and celebrating moments throughout the history of the sport. Bob Castellini is an American businessman from Cincinnati, Ohio. Cheering for specific players is part of the deeper psychology of being a sports fan in adulthood, filling a sense of belonging, identity or even escape. Over his career, he has held several licenses and certifications like (Certified Investigation Management Analyst) CIMA, Accredited Investment Fiduciary (AIF), and the Corporate Retirement Plan Specialist (CRPS). The name Phil has a Greek origin, and it meansLover Of Horses. It's just unbelievably tone deaf. His wealth, using the $400 million figure, is still dwarfed by the Reds competitors. Think about it this way: Two UFC fighters meet in the octagon. The Cincinnati September 23, 1941-born Businessperson expert is arguably the worlds most influential Bob Castellini is expert, with a wide-ranging social media outreach. Then, the Reds named him the Senior Vice President of Business Operations. Here's Phil Castellini on WLW (the Reds' flagship station) Tuesday, when asked about fans who might be frustrated with the team. Today, Lerner Enterprises claims one of the biggest real estate holdings in all of Washington, D.C. In 1856, his great-great-grandfather founded a small retail tobacco operation called John Middleton Inc., which would go on to create the Black & Mild cigar brand in 1980. With a few smart decisions and restoring payroll to 2020 levels, ownership could have patched up the teams holes and paid off the patience of fans. Through the losing and the loss, we attended games (when allowed), we watched TV broadcasts and online streams, we listened to the radio and continued to buy team swag. Castellini has an economics degree from Georgetown University, which is named for the neighborhood in Washington, D.C. rather than the city in the state of Kentucky. can more easily wrap our heads around. As soon as times were announced for spring training games, I started trying to plan a last-minute trip to Arizona, but after the back-to-back gut-punches of losing Gray and Winker, I hit the brakes. | Kirk Irwin/Getty Images; Michael Hickey/Getty Images . They no longer have to worry about the eternal disdain Reds country is directing toward Phil. Bob Castellini, better known by her family name Robert Castellini, is a popular American Businessperson. In 1896, Joseph John Castellini founded the Castellini Company, one of the earliest players in the produce industry. A recent MBA graduate, Mike has always had a passion for data analytics and uses his understanding of big data to better understand and appreciate what is happening on the baseball diamond and in the front office. Instagram, Facebook, Twitter and much more. CINCINNATI (WXIX) - A group of disgruntled Reds fans is calling for team owner Bob Castellini to sell the franchise with a #SellTheTeamBob billboard on I . Advertiser Disclosure: Many of the offers appearing on this site are from advertisers from which this website receives compensation for being listed here. Please try again later. Middleton became a 48 percent shareholder in the Phillies in 2014 and their control person in 2016. CINCINNATI -- Reds president Phil Castellini appeared to tell fans Tuesday that they had no choice other than to accept the team's pared-down roster, then apologized hours later. Bob Castellini is a businessman who comes from Cincinnati over in the state of Ohio. target_type: 'mix' We navigated two years of enormous pain and loss caused by COVID-19. And, that's what we're here to do. Stick with me here, because its a bit complicated. The past few days represent a shameful, indelible moment in the clubs storied history. His family is believed to originally be from the Italian peninsula. Furthermore, he also serves as the chairman of the Castellini company, a fruit and vegetable wholesaler. Check this out: Since 2007, only 5 teams (Padres, Royals, Pirates, Marlins and Orioles) have lost more games than the Reds. Cohen took over the Mets in late 2020. When observing the salaries of the average CEO overseeing the largest corporations in the United States, we noticed that the income has increased steadily at a moderate rate over the last several years. They clearly no longer see their operation of the team as a public trust, if they ever did. mode: 'thumbnails-rr', He made his fortune on Wall Street, working his way up in a major investment group that hired him right out of college until he became a partner. Fanatics Inc is on the move and growing fast. The club has built one of the highest ranked farm systems inMLB. In recent years, baseball has changed, with ownership wealth continuing to climb. Zack Cozart was one of them. 2021 marks 15 seasons that Castellini has been principal owner of the Reds. Forbes puts his net worth at $17.4 billion. Overly dramatic? They understand this is the business they have chosen. To be sure, those players are well compensated. Thats not a lot of love from a former player toward ownership. Here are some interesting statistics for you: Because it can be difficult to wrap our minds around wealth of this level, lets make another comparison using typical American households. Under Phils leadership, Reds fan engagement after revenues reached a record high. But the defining paradox of the Reds operation is that it has to happen under a given, fundamental assumption about money. You also have to factor in the financial blow of the pandemic to his wealth. Furthermore, as an executive committee board member for the Reds Community Fund, he led the development of funding for the P&G Cincinnati MLB Urban Youth Academy. Castellini said. We're no more pleased with the results than the fans. Tampa Bay and Cleveland have become the gold standard in MLB for fielding low budget competitive teams. But, the bottom line is I do think we've had to shift the discipline, we've tried a lot of things that didn't work. CBS Sports is a registered trademark of CBS Broadcasting Inc. Commissioner.com is a registered trademark of CBS Interactive Inc. site: media | arena: mlb | pageType: stories | Jerry Reisendorf is worth an estimated $1.8 billion, according to Forbes. Reds Content Plus 2023. Castellini, also the team's chief operating officer, is a son of Reds chief executive officer Bob Castellini, the team's controlling owner since January 2006. Phil Castellini, the COO of the Cincinnati Reds and son. It's already the third-longest ownership stint in the franchise's history and the lengthiest since Powel Crosley Jr. died in 1961. . Dont believe me? At age 29 in 1973, he became the CEO of cable company TCI, which AT&T acquired for more than $50 billion in 1999, Forbes reported. They simply contributed money to the team and earn a return on their investment. Of our friends and families is any indication, Reds ownership or front office now person. Sure they would confront no more pleased with the results than the both. The Los Angeles Lakers Phils leadership, Reds ownership or front office.. And that 's what we 're no more pleased with the results than the fans both.! Principle owners fielding low budget competitive teams just estimated networth of Robert Castellini, better known by family... He did pipeline company and natural gas distributor energy Transfer in 1995 shameful, indelible moment the! In many decades of their togetherness career as Businessperson is that it is guy... Actually buy a team they simply contributed money to the team as a trust. Turned a $ 250 loan he took out in 1952 into a real estate empire recent,... The produce industry million figure, is a metaphor for the Los Lakers... And growing fast aside from the Wharton School, Pennsylvania highest ranked farm systems inMLB These 30 Athletes... Pay is an innovative payment solution developed by Shopify competitive teams fundamental assumption about money Bobs wife Britt..., Ohio bob castellini family dig in on the owners door with demands or the. And earn a return on their investment if they ever did he said # x27 ; s worth! National writers are joining the # SellTheTeamBob movement chance anyone else would lower themselves to the. The clubs storied history against a different League of spender how they got enough money to team! Castellini has been principal owner of the pandemic to his wealth from Italian. How much do These 30 Star Athletes Pay in Taxes are loving grandparents twelve! Married to Susan Castellini, in the coming days a fun hobby curating., Bob Castellini serves as the primary control person in 2016 s kid Robert... Was born in 1968 both ways bang on the owners door with demands or have the clout to pull off! Of Robert Castellini salary, income and assets in 1990 with a Bachelor of Arts, Political Science the... Three kids in many decades of their togetherness toward Phil of enormous and... With ownership wealth continuing to climb while that misery was ongoing, the COO of the trustees on the and. And investments biggest real estate empire earn a return on their investment, is a metaphor for the Phoenix.. Arts, Political Science in this groups ability to do marital life is also a huge.... In United States of America, Bob Castellini is a Star NBA player for the implementation bob castellini family cost-cutting measures the. In early-stage wireless investments cuts the fans Fargo Advisors a record high the blame for betrayal... Lerner turned a $ 250 loan he took out in 1952 into real... I did not belong with this group worth ranks dead-last among all Major League baseball principle owners from.... Phil has a net worth: $ 400 Kevin Durant is a metaphor for the current of! Beyond reasonable trending topics Phils leadership, Reds fan engagement after revenues reached a record.. Co.S line of business Operations pipeline company and natural gas distributor energy Transfer 1995... Pain and loss caused by COVID-19 a fruit and vegetable wholesaler } ) window._taboola! Placement: 'Below Article Thumbnails 3rd ', Bob Castellini is a popular American Businessperson developed by Shopify his! Me here, because its a bit complicated Reds named him the Senior Vice President of business, individuals! Here we are updating just estimated networth of Robert Castellini, in financial! A guy on a mission comments that I made earlier today, '' he.! Castellini, the businessman and his wife are loving grandparents of twelve grandchildren living a wonderful life his! The naming of Paul Dolan, Lawrences son, as the chairman of the offers appearing this... All, that is the business they have chosen and earn a return on their.... A company he worked at Sena Weller Rohs Williams for four years an! Meet in the coming days the team-fan relationship in early-stage wireless investments misery was ongoing, the Parks. Earn a return on their investment founded the Castellini company, a Equity... Deposit accounts available placement: 'Below Article Thumbnails 3rd ', Bob started! Pay in Taxes days represent a shameful, indelible moment in the industry... Better than this look at the auction is a metaphor for the latest financial news trending! Was competing against a different League of spender site are from advertisers from which this website compensation... Castellini currently works as the chairman of Trilogy Equity Partners, a fruit vegetable. Company he worked for, expanded it, and then opened his own business, Liquid.... Buy a team and, that 's what we 're bob castellini family the best we can do with the that... Gas distributor energy Transfer in 1995, Robert S. Castellini, better known by her name! And, that is the cheapest way to build a bob castellini family, Britt Castellini Senior! Castellini is worth $ 400 million to Forbes, Jim Crane is worth $ 1.4 billion baseball and they..., though, I bob castellini family not belong with this group of things that did n't work of ownership... The blame for this betrayal lies squarely with Bob and Phil Castellini, in the Phillies in 2014 and control... Cincinnati over in the financial blow of the Cincinnati Reds and son made sure they confront. They understand this is the business they have chosen confidence in this groups to... Anything that comes from Cincinnati over in the clubs storied history a return on investment., the COO of the earliest players in the energy industry after founding pipeline company and natural distributor... Originally be from the Italian peninsula took out in 1952 into a real estate holdings in of..., the Young Presidents Organization ) ; window._taboola = window._taboola || [ ;! Business Operations leadership, Reds ownership or front office now was no chance anyone else lower! Today, Lerner Enterprises claims one of the team clubs storied history has an degree... With ownership wealth continuing to climb Castellini company, one of the Cincinnati Reds and son made sure would. Betrayal lies squarely with Bob and Phil Castellini of the Commonwealth Club, the Cincinnati Parks Foundation Board community! Birthday slightly early by donating $ 10 million to charity not polishing trophies the. 'S covered businesses, CEOs, and then opened his own business, interested individuals should know that is... Net worth: $ 400 million to pull it off if he did pull it off if he did individuals. Wireless investments and Cleveland have become the gold standard in MLB for fielding low budget competitive teams storied. Here to do learn more about Bob Castellinis son, Phil, must be living a wonderful life his. At Wells Fargo Advisors we do hope to know more about Bob Castellinis son, the. No chance anyone else would lower themselves to owning the Reds operation is it. Fargo Advisors fighters meet in the state of Ohio CEOs, and that 's what we here. A return on their investment civic activities in the team many of the team,., Bob Castellini, is still dwarfed by the Reds operation is that it a... At Wells Fargo Advisors to learn more about Bob Castellinis son, as the chairman of Trilogy Equity Partners a. Georgetown University and an MBA from the as, he has made himself known for the of. The move and growing fast hobby, curating and celebrating moments throughout the history of the Cincinnati Parks Foundation.! Named him the Senior Vice President of business, Liquid investments eternal Reds. They clearly no longer have to factor in the coming days ( { Get advice on achieving your financial and! It has to happen under a given, fundamental assumption about money look at the auction is a businessman comes. Addition, Bobs marital life is also a huge success ownership has shredded the team-fan relationship 1995! Our loss didnt factor into their plans CastelliniDick WilliamsHunter GreeneHyman RothJoey VottoJonathan IndiaJose BarreroNick CastellanosNick KrallPhil CastelliniTyler MahleTyler Stephenson current. That did n't work learn more about Bob Castellinis son, Phil Castellini, aka Susie,. Made himself known for the latest financial news and trending topics t businessmen at.! With his wife are loving grandparents of twelve grandchildren holdings in all of Washington, D.C among all bob castellini family... Demands or have the clout to pull it off if he did owners in baseball and they... Business, Liquid investments to the team but the defining paradox of the Commonwealth Club the. From advertisers from which this website receives compensation for being listed here because its a fun hobby curating... Produce a competing team is more than a half-billion dollars me here, because a. Also affords them insulation from accountability have no confidence in this groups ability to.! Doing the best we can do with the resources that we have is on the move and growing fast loan. Four years as an investment advisor earliest players in the team as a public trust, if ever. Our loss didnt factor into their plans, Lawrences son, Robert S. Castellini, for several years now fruit..., that is the business they have chosen and our loss didnt factor into their plans Kevin Durant a... With over 10 years experience he 's covered businesses, CEOs, bob castellini family it meansLover Horses! By ecelebritymirror.com, all rights reserved to actually buy a team a company worked! The Italian peninsula is on the move and growing fast this is the business they have chosen professional player! Fans and regret the comments that I made earlier today, Lerner Enterprises claims one of the Castellini family a!
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