December 20 – Romanian businessman Dan Șucu has taken control of the storied Italian club Genoa, ending months of uncertainty under the ownership of 777 Partners.
On Wednesday, Genoa, Italy’s oldest club, announced that the Romanian had acquired a majority stake following a capital increase in the club of €40 million for a 77% share. Three years ago, Genoa was sold to 777 Partners, bringing to an end the ownership of Enrico Preziosi.
In a statement, the club said: “Genoa Cricket and Football Club announces that, following the resolution of a capital increase of €45,356,262 euros, of which €5,356,262 free of charge and another €40,000,000 paid on 14 December, today the Board of Directors met and approved the offer presented by the Romanian entrepreneur Dan Șucu. The Romanian entrepreneur, through his own investment vehicle, has fully subscribed to the capital increase, obtaining in exchange a shareholding of around 77% of Genoa CFC, leaving the previous shareholders in the minority.”
Șucu also owns 90% of the Romanian club Rapid Bucharest. The Italian club believes that the new owner will bring stability to Liguria. The Romanian is the founder of Mobexpert, Romania’s largest furniture brand, and has investments in the real estate sector at home. He is also a stakeholder in the daily newspaper Ziarul Financiar.
“The change of majority represents a new chapter for the oldest club in Italy, with the hope that Dan Șucu’s entry can bring economic stability and new investments to strengthen the team and infrastructure. Genoa thanks its fans for their constant support and looks to the future with confidence, certain that this new phase will consolidate the prestige and satisfaction that the Club deserves,” said a club statement.
The news comes in the same week that Everton announced a takeover by the Friedkin Group. Miami-based 777 Partners had also tried to acquire the Premier League club.
Genoa currently lie 14th in Italy’s Serie A.
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