After 18 years at the helm, Enrico Preziosi has sold Genoa to 777 Partners. The fund, whose HQ is in Miami, and the club have announced the takeover Thursday. The new ownership will inject fresh capital into the team’s finances right away and pay off the debts over time.
Preziosi will remain on the board of directors to handle the institutional relationships. Moreover, current CEO Alessandro Zarbano will oversee the day-to-day operations for the time being. 777 Partners are minority shareholders of Sevilla and of the basketball team London Lions. Their portfolio includes the streaming platform Fanatiz, the company 1190 Sports that manages TV rights, and Atalanta Media, which is devoted to women’s soccer.
Their founder Josh Wander commented: “We are deeply honored to be part of a club with such a deep history and tradition like Genoa. We understand and respect the responsibility we are inheriting. We wish to treasure and protect the glorious brand of the Rossoblù, aiming at the best possible positions in Serie A.”
Preziosi weighed in: “It was time for the team to change hands. I always said that I would leave Genoa only to strong and reliable ownership and 777 Partners fit the profile. I will always be a fan.”
The previous chairman had been in talks to give up the outfit since late August. Genoa become the seventh Serie A team with American ownership after Milan, Roma, Fiorentina, Spezia, and Venezia. Furthermore, Bologna belong to Canadian billionaire Joe Saputo. According to Tuttomercatoweb, 777 Partners spent €150M for the acquisition, including debts.