777 Partners Acquires Full Ownership of Genoa Cricket and Football Club, Italy’s Oldest Football Team
September 23, 2021 - 777 Partners, a Miami-based alternative investment firm, has acquired full ownership of Genoa Cricket and Football Club, Italy’s oldest professional football team. Genoa C.F.C. (“Genoa”), which plays in Italy’s prestigious Serie A, was established in 1893 and has won the Italian championship nine times.
The new ownership group will purchase 99.9% of the share capital in Genoa, inject fresh capital into the club and will assume certain related liabilities. 777 Partners will use its expertise in the sports, media and entertainment industries to help further commercialize the operations of the club. The Club’s previous owner, Enrico Preziosi, will remain on the Club’s Board of Directors, while CEO Alessandro Zarbano will continue to run the day-to-day operations of the Club.
“We are profoundly humbled to be a small part of the rich history, heritage and tradition of Genoa,” said Josh Wander, Founder and Managing Partner of 777 Partners. “We understand and respect the responsibility we are inheriting to preserve and protect the proud legacy of the Rossoblu, and we are committed as custodians of that legacy to help the club reclaim its place at the top of Serie A.”
"The time has come to pass the torch,” said Preziosi. “I have always said that I would leave Genoa only to a strong and reliable new owner, and I leave it in the hands of 777 Partners. To them, who will now lead the oldest club in Italy, I wish the best. I will always remain a Rossoblu fan.”
777 Partners has quickly built a world-class portfolio in the sports industry, focusing on undervalued businesses with deep connections to their fan bases and emerging businesses in fast growing and underserved markets. In addition to Genoa, 777 Partners also owns a significant stake in Sevilla FC, one of Spain’s most prestigious and successful football clubs, as well as the London Lions, London’s only team in the British Basketball League team. The firm’s Sports, Media and Entertainment portfolio also includes, Fanatiz, a streaming service distributing live sports for European and Hispanic audiences in 90+ countries around the world; 1190 Sports, which provides top-class management and commercialization of sports rights; Atalanta Media, the first-ever dedicated distribution, engagement and community platform for women’s football; and Uplay, a Canadian community service, academics, and basketball platform.
The investment was led by Josh Wander and Steve Pasko, the founders of 777 Partners, as well as Juan Arciniegas, the managing director who oversees the firm’s sports, media and entertainment investments, and Andres Blazquez, the operating partner who helps manage the firm’s football investments.
MEDIA CONTACT
Italy – Giampiero Timossi, timossi@genoacfc.it
U.S. -- Jeff Heckelman, jeff@jeffheckelman.com
About 777 Partners
777 Partners is a Miami-based alternative investment firm that invests across a number of high growth attractive verticals. Founded in 2015, 777 Partners strategically invests across six broad industries: insurance; consumer and commercial finance; litigation finance; direct lending; sports, media and entertainment; and aviation. The firm seeks to acquire and build operating businesses that generate long-term, high quality predictable cash flows for its proprietary balance sheet, while consolidating operations across like businesses to create efficiencies and economies of scale. 777 Partners invests at all stages of the business cycle and targets companies accretive to its existing portfolio.
About Genoa C.F.C.
Genoa C.F.C. is a professional football club based in Genoa, Liguria, Italy, that competes in the Serie A. Established on 7 September 1893, it is Italy's oldest football team, and the oldest Italian football team still active to this day, with over 125 years of history. During their long history, Genoa have won the Italian Championship nine times. Genoa's first title came at the inaugural championship in 1898 and their most recent was in 1923–24. They have also won the Coppa Italia once. Historically, Genoa are the fourth most successful Italian club in terms of championships won. Genoa finished in 11th place in the 2020-21 Serie A season, its best result since placing 10th in the 2015-16 season and 6th in 2014-15. The team is led by Head Coach Davide Ballardini.