American investment firm buy majority stake in Genoa

According to La Gazzetta dello Sport, American investment firm 777 Partners have acquired a majority stake in Genoa and an announcement is expected on September 14.

Talks between the two parties have reached a final stage after several months of negotiations, so Genoa become the eighth Serie A club run by foreign ownership after Milan, Inter, Spezia, Venezia, Bologna, Fiorentina and Roma.

777 Partners is a Miami-based private investment firm that ‘invests across a number of high growth attractive verticals with a strong focus on financial services.’ They also own minority shares of La Liga side Sevilla.

According to the report, Genoa President Enrico Preziosi will remain at the club as a minority shareholder for three years and will continue to represent the club within the Lega Calcio and at an institutional level.

That would also help the new owners to settle in. The deal is done and an official announcement is expected to be released on September 14. Preziosi became Genoa President in 2003.