Acquisition of Italian soccer club "Genoa" by American investment firm 777 Partners is set to be finalized.
American Investment Firm 777 Partners to Acquire Italian Football Club Genoa
In a significant move, American investment company 777 Partners is set to acquire a majority stake in Italian football club Genoa C.F.C., marking their entry into the top tier of Italian football and a broader ambition in the football sector. The deal, which is expected to be finalized by October 15, 2022, will see 777 Partners become the new majority stakeholders in Genoa.
Founded around 2010, 777 Partners is primarily focused on structured settlements, annuities, and esoteric investment-grade assets. They operate through various subsidiaries such as SuttonPark Capital LLC, specializing in origination and servicing of structured settlements and long-term cash flows.
The investment firm has been increasingly active in the sports sector, particularly football, and has a growing portfolio of clubs across different leagues globally. Their involvement in football aims at growing the value of these assets through strategic operational improvements and leveraging the global football market.
777 Partners' current notable football investment is the ownership of Spanish club Sevilla, a fact that could influence Genoa's future performance under the same investors. Their success with Sevilla, which has seen the club win multiple titles, could provide a blueprint for Genoa's revival.
Genoa, a club with a rich history but recent challenges, is expected to benefit from the new ownership. The investment is expected to be channeled towards restoring the club's competitive standing in Serie A.
Enrico Preziosi, the current president of Genoa, has stipulated that he should remain in the club and assume a new role after the ownership transfer. The exact nature of his new role within the club is yet to be disclosed.
The acquisition of Genoa by 777 Partners follows a trend of Italian clubs changing ownership, including Milan, Inter, Roma, Fiorentina, Bologna, Spezia, and Venezia. This move also indicates 777 Partners' growing influence in European football.
777 Partners' involvement in football extends beyond Genoa, as they already own a stake in a club outside Italy. Their entry into the Italian market follows their investments in Spain, further solidifying their international presence in football.
Despite the lack of detailed public information about the precise terms or extent of their involvement with Genoa, it is clear that 777 Partners is now a significant stakeholder in Genoa C.F.C., representing their commitment to international football investments.
[1] Source: Various news articles and financial reports.
- The strategic expansion of 777 Partners, renowned for its interests in structured finance and annuities, is not limited to the football sector, as evidenced by their acquisition of a majority stake in Genoa C.F.C.
- As the new majority stakeholders in Genoa, 777 Partners' future financial commitments towards restoring the club's competitive standing in Serie A could potentially impact the club's financial health and overall performance.
