Genoa, the oldest club in Italian soccer, has been acquired by American investment firm 777 Partners, following long-time owner Enrico Preziosi’s decision to depart from the club. Genoa is now the sixth Serie A team to be acquired by U.S. owners, following in the footsteps of AC Milan, Fiorentina, Spezia, AS Roma, and Venezia.
In a joint statement, it was confirmed that the Miami-based 777 Partners would be purchasing 99.9% of the club’s capital, in addition to assuming certain liabilities and debts and also injecting new funds into the organization. According to Reuters, the deal values the club at €150 million ($175.80 million) including debt.
Josh Wander, founder and managing partner of 777 Partners, expressed his delight following the closing of the deal: “We understand and respect the responsibility we are inheriting; we want to preserve and protect the proud legacy of the Rossoblu by aiming for the best possible placing in Serie A.”
This deal is not the first excursion that 777 Partners has taken into the world of football. The Miami investment firm also owns a stake in the Spanish La Liga club Sevilla.
