Genoa’s recent ownership history has returned to focus after Josh Wander, the 45-year-old co-founder of former club owner 777 Partners, entered a guilty plea to fraud charges in a federal court in Manhattan.
Wander admitted that he had secured loans during 2021 and 2022 by supplying information that overstated the value of his assets. The case concerns wire fraud and securities fraud, and he has agreed to repay $500 million for losses linked to the fraudulent transactions.
Speaking before the judge in New York on Thursday, Wander accepted responsibility for his actions. “When I did these things, I knew what I was doing was wrong, and I am deeply sorry for my conduct,” he said.
A troubled chapter behind Genoa’s change of control
The legal development comes after the financial collapse around the Miami-based 777 Partners group had already affected the football clubs assembled under its ownership model, including Genoa.
The Rossoblu, now coached by Daniele De Rossi, moved into the orbit of A-Cap, the investment firm which had provided 777 Partners with loans worth billions of dollars. Genoa’s exposure to the group’s financial difficulties created uncertainty around the club’s future before Dan Sucu completed a capital increase on 18 December 2024.
That operation was challenged in court, but a final ruling upheld its validity and confirmed the position of Genoa’s current ownership.
A-Cap retains a minority stake
A-Cap still holds 23% of Genoa, although those shares remain subject to a precautionary seizure. The ownership dispute also involved Don Dransfield, a former City Football Group executive.
Dransfield gave evidence against the capital increase despite never having held an official role at Genoa. The final court decision, however, brought legal recognition to the Sucu-led ownership structure, closing one of the most unsettled institutional passages in the club’s recent Serie A story.
