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Italy’s oldest club latest Serie A side wins US investment – Soccer Sports

Italy’s oldest soccer team Genoa When Miami-based 777 Partners purchased the club from its long-time owner Enrico Preziosi, it became the sixth Serie A side with American ownership on Thursday.

Private investment companies are the latest US owners in Italy’s top leagues. AC Milan, Fiorentina, Spezia, AS Roma When Venice..

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Eight of the 20 top Italian clubs currently have foreign owners, including: ChinaSuning Group of Inter Milan and Joey Saputo of Canada Bologna..

According to a joint statement, 777 partners will purchase 99.9% of the club’s capital, inject new funds and “take on certain related liabilities” without revealing the financial details of the transaction. is.

A close source told Reuters that the deal valued the club at € 150 million ($ 175.8 million), including debt.

Josh Wander, founder and managing partner of 777 Partners, said:

“We understand and respect the responsibilities we carry on. We want to maintain and protect Rossoble’s proud heritage, aiming for the best placement in Serie A.”

According to Genoa’s statement, Pregiosi will remain on the club’s board of directors, and CEO Alessandro Zarbano will continue to manage day-to-day operations.

Preziosi, head of the Italian toy maker Gioch Preziosi, took over in 2003 when nine Italian champions were in Serie B.

Founded in 1893, the club was promoted four years later and has remained in Serie A ever since.

“I’ve always said I’m going to put Genova in the hands of a strong and reliable new owner, and I’ll put it in the hands of my 777 partner,” Preziosi said.

In addition to Genoa, 777 partners own shares in Spanish football clubs Sevilla, And the British basketball team London Lions.

– Soccer Sports

Italy’s oldest club latest Serie A side wins US investment

https://www.espn.com/soccer/genoa/story/4482128/italys-oldest-club-latest-serie-a-side-to-gain-us-investment Italy’s oldest club latest Serie A side wins US investment

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