Genoa owners 777 Partners have also announced a deal to purchase French third division club Red Star FC, further expanding their football investment.
The American investment firm bought out Genoa President Enrico Preziosi for a reported €150m in September 2021, ending Preziosi’s 18-year reign at Marassi.
It was today announced that Red Star FC, who play in France’s third tier, are in exclusive negotiations to complete the takeover by 777 Partners as well.
Genoa’s social media channels confirmed as much by welcoming Red Star to “the 777 family.”
They are not the only football clubs who form part of the portfolio of the 777 Partners business.
This same company also has shares in LaLiga side Sevilla FC, who are in the Champions League quarter-finals.
It remains to be seen if all these clubs will make transfer deals between them or share any other synergy.
Red Star FC are the fourth oldest club in France, founded by future FIFA President Jules Rimet in 1897, and were relegated to the third tier in 2019.
🤝 Welcome to 7️⃣7️⃣7️⃣ family, @RedStarFC! pic.twitter.com/fligDrbU3T
— Genoa CFC (@GenoaCFC) April 6, 2022
I have doubts with owning multiple clubs, if your goal is to be like Udinese, develop and sell talent…fine….
However, its important to explain your vision and intentions to fans as well. Genoa deserve a strong ownership who can invest….