GLASGOW'S oldest and best known Italian restaurant has been taken over by the Di Maggio chain in a £2million deal.

City centre eaterie L'Ariosto, a favourite with Old Firm footballers and visiting Italian teams, has been celebrated for its upmarket authentic dining for 40 years.

It was bought over from the Cecchetti family, who have run the business for six years.

Mario Gizzi, director of the Di Maggio chain, moved his staff into the premises on Monday and said he wanted to "rejuvenate" the business and widen the clientele while keeping its upmarket theme.

In its heyday in the 1970s, under ownership of renowned Glasgow restaurateur Mario Romano, the Mitchell Street restaurant was a favoured venue for Old Firm Christmas parties and entertainers, including Billy Connolly.

It still attracts footballers, including Ibrox legend Ally McCoist and Italian side AC Milan, when they are in the city.

The eaterie is named after an Italian poet and won a top gong in the 2002 Auchentoshan Spirit of Glasgow restaurant awards. It was also named "most authentic Italian restaurant" in an industry poll.

The Di Maggio chain also owns Amarone and Cafe Andaluz and employs around 500 staff.

Mr Grizzi said: "We tried to buy the restaurant six years ago and then it came back on the market.

"It is a Glasgow institution and landmark. It has iconic status and is in a prime position, close to Glasgow's premier shopping street.

"We are trying to rejuvenate the brand and bring it back into the public domain so it is not just a special occasion restaurant, while retaining its upmarket status.

"It has always been a family-run business and we will continue along these lines.

"We have just moved in and are looking at the options to formulate plans."

L'Ariosto is the only restaurant in Glasgow that still offers diners authentic Flambe cooking at the table.

The 120-capacity eaterie's other claim to fame is its long history of providing live music along with your meal, a tradition that continues.

Former owner Mr Romano is the father-in law of ex-Rangers' star Rino Gattuso and dad of GMTV presenter Carla Romano, who is now based in Los Angeles.

Di Maggio's was launched in 1980 and has restaurants in the city centre and South Side of Glasgow, as well as East Kilbride, Hamilton and Airdrie.