Genoa Cricket and Football Club, the oldest soccer club in Italy, has announced significant changes in ownership as Romanian businessman Dan Șucu completes the acquisition of a majority stake. On Wednesday, the club confirmed the sale after wheeling through a capital increase worth approximately 45 million euros ($47.13 million), securing 77% of the shares. This move is hoped to usher in "financial stability" and renewed investments to revitalize the club's fortunes after months of instability under the previous Miami-based owners, 777 Partners.
Founded back in 1893, Genoa recently navigated through turbulent waters as their former owners faced bankruptcy early last month. With fan sentiments running high and concerns mounting over the club's future, the arrival of Șucu is seen as a breath of fresh air. The sale marks the end of 777 Partners' tumultuous reign which lasted only three years, during which they inherited the club from Enrico Preziosi, who ruled for 18 years.
According to Genoa CFC's official statement, "The transfer of majority ownership marks a new chapter for Italy’s oldest football club, with the hope the entry of Dan Șucu can bring financial stability and new investments to strengthen the team and its infrastructure." Such sentiments resonate among supporters who have longed for stability and progress.
Șucu's financial commitment includes 40 million euros as part of the paid increase, with another 5.35 million euros obtained free of charge. The club's board approved the acquisition following diligent efforts from their investment vehicle, demonstrating the seriousness of the new ownership's intentions. The timing of the acquisition is particularly fortuitous, as Genoa has recently shown resilience on the pitch, remaining unbeaten since the appointment of manager Patrick Vieira.
But who exactly is Dan Șucu? Apart from his new role as the majority owner of Genoa CFC, he is also known for owning Rapid Bucharest, one of Romania's prominent football clubs, from which he holds approximately 90% of the shares. Besides his venture in the football industry, Șucu is widely recognized as the founder of Mobexpert, Romania's biggest furniture brand. His leadership over the company has allowed it to employ over 2,200 individuals, showcasing his capability as both a businessman and community leader.
While his financial prowess is apparent, the Romanian entrepreneur is not just driven by commercial gains. He aims to leverage the power of football to create social impact, as underscored by his activities with Rapid Bucharest, where his investments have gone toward developing modern training infrastructure and establishing youth academies.
“A sports enthusiast and already the owner of Rapid Bucharest, Dan Șucu has contributed to reviving this historic institution with over 100 years of tradition,” stated the Genoa CFC announcement. This commitment to fostering young talent and promoting inclusion aligns seamlessly with the challenges facing Genoa, who currently occupies the 13th position tied just above the relegation zone.
With the on-field situation progressively improving, courtesy of Vieira’s management skills, Genoa now looks to build on this renewed momentum under Șucu's leadership. The new board is optimistic about eleving the club's league standings since they have garnered one victory and three draws since the managerial change. Their recent performance includes earning a draw against AC Milan, which has injected confidence throughout the squad.
Reflecting on the club's left-behind legacy, which includes winning nine Serie A titles, the new ownership speaks not only of the ambition to restore prestige but to perpetuate the love and support of fans over the years. Genoa's statement goes on to express gratitude toward its loyal followers during these challenging times, affirming, "Genoa extends their gratitude to their loyal fans for their unwavering support and looks to the future with confidence, hopeful this new phase will consolidate the club's prestige and success." This clarion call to the fans encapsulates the spirit of revival the club hopes to build.
Looking toward the future, Dan Șucu’s stewardship at Genoa CFC signals not just the changing of the guard but also the dawn of fresh opportunities for growth, both on and off the field. The club's commitment to restoration and progression under his watch offers hope as it embarks on this exciting new chapter. With football being not only about the game but the holistic growth of communities, Genoa stands at the precipice of what could be its most transformative era yet.
