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US investment firm buys Italian football club Genoa

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Genoa announced on Thursday they have been bought by American private equity fund 777 Partners for a reported 150 million euros ($175 million) as Italian businessman Enrico Preziosi ends his 18-year ownership of Italy's oldest football club.

Genoa announced on Thursday they have been bought by American private equity fund 777 Partners for a reported 150 million euros as Italian businessman Enrico Preziosi ends his 18-year ownership of Italy’s oldest football club.

“The previous owner, Enrico Preziosi, will remain on the board of directors, while CEO Alessandro Zarboni will continue to manage the day-to-day operations of the club,” it added. Genoa fans have had little to cheer about since Preziosi’s arrival though, winning no trophies and only finishing in the top 10 once in the past 10 seasons.

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