According to multiple reports in Italy, American investment firm 777 Partners have formally bought a majority stake in Genoa for €150m. Several rumours suggested Genoa President Enrico Preziosi was about to sell a majority stake in the club to the American firm and according to multiple reports in Italy, the two parties finalised the agreement this morning.

777 Partners is a Miami-based private investment firm that ‘invests across a number of high growth attractive verticals with a strong focus on financial services.’ They also own minority shares of La Liga side Sevilla. A previous report from La Gazzetta dello Sport claimed Preziosi will remain at the club as a minority shareholder for three years and will continue to represent the club within the Lega Calcio and at an institutional level.