Want more from Front Office Sports
in your search results?
777 Partners acquired Serie A’s Genoa C.F.C. on Thursday in a deal valued at $175 million.
The Miami-based private equity firm has purchased full ownership of Italy’s oldest soccer team from Enrico Preziosi, who saved Genoa from bankruptcy in 2003 for $23 million.
As part of the acquisition, 777 Partners will inject fresh capital into Genoa, which suffered a $38 million loss in 2020 due to the global pandemic. The firm will also help further commercialize the club’s operations.
The purchase of Genoa marks 777 Partners’ second investment in top-flight soccer. The firm owns a 15% stake in La Liga’s Sevilla FC, which is valued at $436.5 million.
777 Partners has more than $3 billion in assets under management, with several sports-related investments.
- It invested $10 million in Fanatiz, a sports-focused OTT service during a Series A round.
- It owns a majority stake in the London Lions of the British Basketball League.
- Last year, it acquired 1190 Sports, which manages sports media rights.
- The firm is an investor in Ata Football, a company devoted to elevating women’s soccer.
Genoa joins AC Milan, Fiorentina, Spezia, AS Roma, and Venezia as Serie A clubs under American ownership. 777 Partners intends to look for more opportunities in soccer throughout Europe and South America.
Download the FOS App
The business of sports, in your pocket.
Scan the QR code to get the app now.
