Italy’s oldest soccer club, Genoa, has been acquired by Romanian businessman Dan Șucu, who has taken a majority stake in the team.
On Wednesday, Genoa announced that Șucu had secured a 77% share through a capital increase of 40 million euros ($42 million). The club expressed optimism that Șucu, who also owns 90% of Romanian team Rapid Bucharest, will provide the “financial stability” it has sought after months of uncertainty under the previous ownership of Miami-based 777 Partners.
Founded in 1893, Genoa was sold to 777 Partners three years ago, concluding Enrico Preziosi’s 18-year tenure as owner. The club, which last claimed an Italian league title in 1924, is currently positioned 13th in Serie A, just two points above the relegation zone. However, it remains unbeaten since appointing Patrick Vieira as head coach last month.
“The transfer of majority ownership marks a new chapter for Italy’s oldest football club, with hopes that Dan Șucu’s entry will lead to financial stability and new investments to enhance the team and its infrastructure,” the club stated.
Șucu is the founder of Mobexpert, Romania’s largest furniture brand, and has diverse investments in real estate and media within his home country.
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