Genoa moves on to Romanian Dan Sucu
The entrepreneur, founder of Mobexpert, the largest furniture brand in Romania, has acquired 77% of the Ligurian club's capital
2' min read
2' min read
Dan Sucu is the new owner of Genoa Fc. The Romanian entrepreneur, founder of Mobexpert, the largest furniture brand in Romania with 2,200 employees, 8 factories and 26 owned shops, is already the main shareholder of Rapid Bucharest, in which he owns 90 per cent of the shares.
The formalisation of the purchase
.This is the press release issued by Genoa in the afternoon: "Genoa Cricket and Football Club announces that, following the resolution of a capital increase of 45,356,262 Euros, of which 5,356,262 Euros were free of charge and another 40 million paid on 14 December, today the Board of Directors met and approved the offer presented by the Romanian entrepreneur Dan Șucu. The Romanian entrepreneur, through his own investment vehicle, has fully subscribed the capital increase, obtaining in exchange a shareholding of around 77% in Genoa, leaving the previous shareholders in the minority. The proposal, structured and highly strategic, will allow the capital increase to be fully subscribed, providing the club with the necessary resources to strengthen its sporting ambitions'.
The Turning Point
.On Saturday, 14 December, the red and blue club's shareholders' meeting had approved the proposed capital increase without pre-emptive rights, noting the difficulties of 777 Partners, the American company that had bought Genoa from Enrico Preziosi, which had been put in crisis by the demand for repayment of the loans received from the two main investors, A-Cap and Leadenhall (totalling more than $2.5 billion). The capital increase had been 'called in' but not subscribed by A-Cap. There was time until 14 January. But Sucu sent a letter with a binding offer to the Genoese management, which was accepted. Sucu thus finds itself majority shareholder of Italy's oldest club, having become the owner of 77 per cent of the shares, while 777 Partners remains at 23 per cent.
Multi-ownership football
.Born on 25 April 1963 in Bucharest, Sucu owns 90 per cent of the shares in Rapid Bucharest, which under his management has invested in the creation of a modern sports centre for the first team and youth academy with 700 youngsters. Since 2021 he has held the role of president of the Confederația Patronală Concordia (Confederation of Employers Concordia, the Romanian equivalent of Confindustria), the main association of private companies in Romania. Since 2022 he also has n key role in the economic newspaper Ziarul Financiar.
