New Era for Genoa: Romanian Businessman's Takeover Brings Hope

Genoa, Italy's oldest soccer club, is now owned by Romanian businessman Dan Șucu, following a capital increase of €40 million for a 77% stake. The club aims for financial stability and new investments after uncertain times with 777 Partners. Genoa is currently 13th in Serie A.

Genoa, Italy's storied soccer club, has embarked on a new chapter with the ownership of Romanian businessman Dan Șucu.

On Wednesday, Genoa announced that Șucu acquired a majority stake by investing 40 million euros, which gives him a 77% share in the club. This move signals hope for financial stability for the club, which had previously faced uncertainty under the ownership of Miami-based 777 Partners.

The transition of ownership is expected to strengthen the team and its infrastructure, pinning hopes on Șucu, who is also the major stakeholder in Romanian team Rapid Bucharest and founder of Mobexpert, Romania's largest furniture brand, and holds investments in real estate and media.

(With inputs from agencies.)