The daily Tuttosport gave ample space to the controversy related to Dan Șucu’s acquisition of 77% of the shares of the Genoa club. In short, the Romanian investor has fallen into the middle of a war between the officials of the oldest club in Italy and the American shareholders, so his bona fide purchase could be attacked due to some financial quibbles.
Dan Șucu is waiting to clarify the situation. Photo Rapid 1923
Although the American investment fund 777 Partners had control over the Genoese “Griffon” until it was bought by Dan Șucu, another company, A-Cap, claims that it would have the Genoa shares in its portfolio and thus the Romanian businessman would purchased the social shares from whom it should not.
“Although last night Genoa officially categorically denied that there was any irregularity in carrying out the transaction with the co-owner of Rapid Bucharest, the Americans could sue the Romanian investor”, wrote Tuttosport.
Genoa claims that the transaction is 100% legal
“The economic news site Bloomberg published a statement from a spokesperson for A-Cap, the creditor company of 777 Partners, according to which this alleged sale was executed without the knowledge, approval or signatures of the club’s shareholders and without the consent of the representatives on the Board of Administration! Any attempt to falsely represent Genoa will be strongly contested by the club’s shareholders.” those from Tuttosport detailed.
Came the prompt reply offered by Genoa, who “strongly denies what has been announced by some media sources and reserves the right to take measures in the competent forums to protect its interests and against the spread of false or inaccurate news”.
Club Genoa was taken over by 777 Partners in 2021, and Advantage Capital Holdings LLC (A-Cap) was one of 777’s main creditors, taking substantial loans from them. As 777 Partners went bankrupt, A-Cap believes it is entitled to take control of the club, on account of the borrowed funds. Dan Șucu would have needed their approval to take over the club, the Americans claim.
The Italian daily continues: “Therefore, a possible legal war for Grifon is looming in the United States. In reality, however, the situation is very complicatedsince A-Cap, formally a creditor of 777 Partners, did not even have people on the Board of Directors. Shares that belonged to 777 Partners, so that on the agenda of the meeting was the revocation of the appointment as administrators of Wander, Pasko and Weiss, legitimate representatives of 777″.
The same Tuttsport concluded: “At the beginning of December, the Rossoblù club itself pointed out that the majority shareholder 777 Genoa CFC Holdings Srl did not give any mandate for the sale of the shares held in Genoa CFC SpA, much less to Moelis & Company. And Moelis would have been, conditional at this moment, precisely the bank designated by A-Cap in the analysis of the clubs belonging to 777”.
