Genoa CFC
Dan Șucu acquisition · 18 Dec 2024
- Buyer
- Dan Șucu
- Seller
- 777 Partners / A-CAP
- Stake acquired
- 77%
- Control
- Yes
- Reported consideration
- Undisclosed
- Implied equity value
- —
- League
- Serie A
- Country
- Italy
- Confidence
- HIGH
Buyer profile: Dan Șucu: clubs owned, where they buy next
Dan Șucu took control of Genoa CFC from 777 Partners / A-CAP through a rescue recapitalization, announced 18 Dec 2024.
The purchase consideration was not disclosed. €40m of new capital went into the club. A further €40m was announced as an investment commitment.
Nearest pre-acquisition revenue was €85.1m (FY 2023/24 (six-month transitional period 1 Jan–30 Jun 2024; standalone Genoa CFC S.p.A.)).
- Announced
- 18 Dec 2024
- Closed
- 18 Dec 2024
- Stake after transaction
- 77%
- Status
- completed
Reported consideration
What the buyer reportedly paid for the stake
Implied 100% equity value
Calculated: consideration ÷ stake acquired
Reported club valuation
Enterprise value
Only shown when debt/cash near the transaction date is established
Debt assumed / restructured
Primary capital injection
Total announced investment commitment
Commitments are not purchase price and not valuation
Nearest pre-acquisition financial year: 2023/24 (six-month transitional period 1 Jan–30 Jun 2024; standalone Genoa CFC S.p.A.)
Revenue
Wages
EBITDA
Net debt
Net income
Sequel to 777 Partners' September 2021 acquisition of Genoa (transaction 777-partners-genoa-2021). With 777 Partners collapsing under >$2.5bn creditor claims and its creditor A-CAP asserting control over 777's club holdings but declining to fund, Genoa's equity had fallen to €1.05m at 30 Jun 2024 (art. 2446 situation) and the Agenzia delle Entrate wanted the €37m tax-settlement plan secured.
- Genoa CFC official statement: 'Cessione della maggioranza delle quote di Genoa C.F.C. all'imprenditore Dan Șucu' ↗Tier 1 · primary club
2024-12-18 · it — “Following the 14 Dec resolution of a €45,356,262 capital increase (€5,356,262 gratuito, €40,000,000 a pagamento), the board on 18 Dec approved Dan Șucu's offer; via his investment vehicle he subscribed the increase in full, obtaining ~77% of share capital and leaving previous shareholders in minority. Șucu owns 90% of Rapid București.”
2024-12-18 — “Sucu controls 77% after underwriting a capital hike of around €45m; 777 Partners remain as minority shareholders.”
- AP News — Italy's oldest soccer club Genoa taken over by Romanian businessman Dan Șucu ↗Tier 3 · media
2024-12-18 — “Șucu acquired a majority stake after a capital increase of €40m for a 77% share; club sold to 777 Partners three years earlier, ending Preziosi's 18 years.”
2024-12-18 — “AGM of 14 Dec approved increase without pre-emption rights; A-Cap had 'called' but not subscribed it (deadline 14 Jan); Sucu sent a binding offer accepted by management; Sucu 77%, 777 Partners remains at 23%.”
2024-12-19 — “Sucu holds roughly 77% after subscribing to a €45m capital increase; A-CAP disputed the transaction the following day.”
- Calcio e Finanza — Blazquez: 'Aumento di capitale irreversibile. Non temiamo azioni legali' ↗Tier 4 · media
2024-12-20 · it — “CEO Blazquez: 'Non si è trattato di una vendita, ma di un aumento di capitale... registrato nel libro degli azionisti.' €40m increase gave Sucu 77% using own capital; A-Cap had promised funds by January but never confirmed, so the board sought outside investors.”
2026-06-23 · it — “Tribunale di Genova rejected ACM Delegate/A-Cap's challenge to the 14 Dec 2024 resolution on the merits; A-Cap's remaining 23% (value €28.1m) remains under conservative seizure with a court-appointed custodian.”
- Il Sole 24 Ore — Genoa, legittimo l'acquisto della proprietà del club da parte di Dan Sucu ↗Tier 3 · media
2026-06-24 · it — “Merits judgment (23 Jun 2026) rejected all A-Cap grounds incl. exclusion of pre-emption; Șucu ~77%; 23% still referable to A-Cap under seizure (~€28.1m); 777 faced >$2.5bn repayment demands from A-Cap and Leadenhall.”
- CalcioGenoa.it (citing Il Secolo XIX) — Dan Sucu acquista il Genoa con la sua società 'Passion for Green' ↗Tier 5 · media
2024-12-23 · it — “Investment vehicle identified as Passion for Green; Sucu subscribed alone, without partners.”
- Genoa CFC S.p.A. — Bilancio d'esercizio al 30 giugno 2024 (fascicolo di bilancio, PDF) ↗Tier 1 · filing
2024-12-14 · it — “Six-month period: valore della produzione €85,073,614; costo del lavoro €33,790,290; MOL €30,716,551; ammortamenti/svalutazioni €62,505,405; perdita €38,831,182; patrimonio netto €1,050,888 (capitale sociale €6,471,355); debiti verso banche €24.43m + €32.17m oltre; altri finanziatori €82.71m + €11.80m oltre; total debiti €318,995,403; cash end of period €4,778,797; 777 support since entry ~€143m to 30 Jun 2024 (€148m incl. Q3 2024).”
2024-12-18 · it — “Independent analysis of the filed accounts: loss €38.8m; 777 injected €27.2m in H1 2024 (€13.8m capital + €13.4m debt waiver), €148m cumulative; broader 'debito netto' up €18.8m to ~€199m; €20m loan repaid Oct 2024; player registrations on books €115m.”
2025-10-27 · it — “'Passion for Green Srl ha versato Euro 32 milioni degli Euro 40 milioni sottoscritti... Euro 10 milioni versati contestualmente alla sottoscrizione, altri Euro 20 milioni entro il 30 giugno 2025; crediti verso soci per versamenti ancora dovuti pari a Euro 10 milioni.' Consolidated loss €32.6m; share capital €51.8m post-increase.”
- Calcio e Finanza — Genoa, ricavi a 120 milioni e rosso di 33,5 milioni nel bilancio 2025 ↗Tier 4 · media
2025-12-11 · it — “FY2024/25 revenue €120.478m vs €85.073m for H1 2024; personnel €62.4m vs €33.79m (of which €31.38m tesserati); equity €1.05m → €17.9m via €45.4m capital operations (€5.36m gratuito from reserves + €40m paid by Sucu); total debiti €283.6m vs €318.9m.”
2026-02-03 · it — “Genoa gross debt €284m and net financial debt €140.6m at 30 Jun 2025 (4th highest in Serie A).”
- GOLAZO.ro — 'Afacerea Genoa', primul bilanț contabil al Passion for Green Capital SRL ↗Tier 5 · media
2026-01-29 · ro — “Passion for Green Capital SRL (incorporated 4 Dec 2024) holds 77.17% of Genoa; its 2024 filing shows the Genoa stake at €40.0m funded by a €39.4m shareholder loan from Șucu (i.e. structured as loan-to-vehicle, equity-to-club).”
- Calcio e Finanza — Genoa, il patron Dan Sucu versa altri 10 milioni di euro nel club ↗Tier 4 · media
2025-04-10 · it — “After the court rejected A-Cap's interim request, Sucu set to complete the capital increase with the €10m tranche; Genoa prosecutors opened a fraud inquiry (against unknown persons) on A-Cap's complaint.”