According to La Gazzetta dello Sport, American investment firm 777 Partners have acquired a majority stake in Genoa and an announcement is expected on September 14.
Talks between the two parties have reached a final stage after several months of negotiations, so Genoa become the eighth Serie A club run by foreign ownership after Milan, Inter, Spezia, Venezia, Bologna, Fiorentina and Roma.
777 Partners is a Miami-based private investment firm that ‘invests across a number of high growth attractive verticals with a strong focus on financial services.’ They also own minority shares of La Liga side Sevilla.
According to the report, Genoa President Enrico Preziosi will remain at the club as a minority shareholder for three years and will continue to represent the club within the Lega Calcio and at an institutional level.
That would also help the new owners to settle in. The deal is done and an official announcement is expected to be released on September 14. Preziosi became Genoa President in 2003.
#Genoa, #Preziosi ha ceduto al fondo americano. Ma resterà per 3 anni come socio https://t.co/zBulFQqmsv
— La Gazzetta dello Sport (@Gazzetta_it) September 4, 2021
I would love for a wealthy benefactor to buy Genoa, Torino or bologna similar to man city and bring these legendary clubs to a modern audience.
Not these buy today, invest little and sell on types.
I would love that too.
Foreign investment is an improvement though. They can’t be that bad otherwise Preziosi probably wouldn’t have agreed to it? He’s always been ‘twitchy’ about selling to the ‘wrong’ types before! Keeping Preziosi on is a wise move too + they could make Genoa a more attractive proposition for an even bigger, potential, future buyer! I’m not sure I’d want a big Kufiyah to take over anymore anyway. Italian football still has some authentic identity, whereas some of ‘those’ clubs could be from anywhere? They’re like the old Internazionale, only on acid! With little roots or care for the actual place which they play in.