Romanian businessman Dan Șucu is the new owner of Italy’s oldest soccer club Genoa. The club announced that Șucu had acquired a majority stake after a capital increase of 40 million euros for a 77% share.
The Serie A outfit hopes that Șucu who also owns Romanian team Rapid Bucharest will bring “financial stability” following months of uncertainty under the troubled Miami-based 777 Partners.
The club was on the lookout for new buyers after their 777 Partners went bankrupt back in October, following a winding-up order by the High Court in London.
The club was founded in 1893 and sold to 777 Partners three years ago ending previous owner Enrico Preziosi’s 18 years in charge.
“This transfer of majority ownership marks a new chapter for Italy’s oldest football club. The entry of Dan Șucu is expected to bring economic stability and new investments to enhance the team and its infrastructure,”Genoa said.
Șucu already has 90% ownership Rapid Bucharest, which is in the country’s top league, and is best known as the founder of the Mobexpert furniture brand.
The 61-year-old entrepreneur has also invested in the real estate and media sectors and seeks to use football as a means of promoting social impact, Genoa said.
“Șucu is a prominent figure on the international economic stage and serves as the president of the Confederația Patronală Concordia, the Romanian equivalent of Confindustria,” the statement said.
He is a investor in the real estate sector and, since 2022, in the media sector, has played a pivotal role in Ziarul Financiar.
