The Serie A landscape is currently witnessing a pivotal moment as Genoa, one of the oldest football clubs in Italy, becomes a point of interest for multiple U.S. investors. Existing owners, 777 Partners, are actively seeking offers between €150 million and €170 million (approximately $180 million) to divest their stake in the club. This comes on the heels of a significant shift within their multi-club ownership model, following the loss of control to their principal creditor, A-CAP, an insurance firm based in the United States. The shift has set in motion a new search for potential buyers, with the investment bank Moelis & Company spearheading the effort.
Unlike other clubs within the 777 Partners portfolio, Genoa stands out as a healthy investment, not a distressed asset. Despite historical losses, including €42.3 million in 2021 and €61.7 million in 2022, the club’s financial trajectory has recently taken a positive turn thanks to strategic decisions implemented by CEO Andres Blazquez. A thorough overhaul of the club’s wage structure, squad management, and an uptick in sponsorship revenue have all contributed to Genoa’s now promising financial outlook. Reports indicate that the club anticipates a profit for the 2023-24 season before accounting for interest, taxes, depreciation, and amortization, suggesting that the club is on solid footing as it seeks new ownership.
Changes off the pitch have been mirrored by significant developments on the field. Genoa has recently parted ways with coach Alberto Gilardino, signaling a new chapter under the leadership of Patrick Vieira. This bold move enhances the club’s ambition to maintain competitive performance, especially as they aim to capitalize on their profitable status. Last season, Genoa managed to secure an 11th place finish in Serie A, the highest ranking for a newly promoted team across Europe’s top leagues, showcasing both resilience and potential.
The financial gains from player transfers earlier this year, notably the sales of Mateo Retegui, Radu Dragusin, and Josep Martínez totaling around €68 million, underline the club’s strategic approach to not just operate, but thrive. This proactive stance has drawn the attention of various overseas investment funds, keen on leveraging Genoa’s solid financial position and promising potential in Serie A. The anonymous nature of these interested U.S. parties reflects the preliminary stage of negotiations, with the club aiming to finalize the sale by the end of the current season.
Genoa stands at a crossroads marked by opportunity and ambition. With a strong foundation for profitable growth and active interest from overseas investors, the club is positioned not only for a successful sale but also for an exciting future in Italian football. The upcoming months could redefine the legacy of Genoa, making it a club to watch as it navigates this transition and strives for sustainable success.
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