Some more info regarding 777 who own Genoa and Genoa’s financial situation…we all know who loves “a financial situation”



“Two of their flagship investments, Belgian institution Standard de Liège and Genoa CFC, the doyen of Italian football, still crippled by debt and posting eight-figure losses, are now both under the threat of points deductions because of non-respect of their financial obligations; and their Berlin club Hertha BSC (*) is not faring any better.
The Italian model
Locht remains “confident” and points at another club in 777’s stable to illustrate what can and should be done, adding “that’s what we must attain, that’s 777’s objective”. The problem is that the club in question is Genoa, whose own debt burden is almost
eight times that of Standard, and is
also in danger of losing a point or more as punishment for financial irregularities.
It is the second time that the debt-ridden Ligurian club risks dropping points for failing to pay its taxes in time. Just as happened a year previously, the
Grifone were late in settling their debt to the Inland Revenue, which immediately alerted the Serie A watchdog COVISOC. When this last happened,
Genoa CFC were docked one point. An administrative error was apparently to blame this time, something of which Genoa will have to convince the authorities, whose patience would have good reason to wear thin: the Italian authorities have already agreed to reduce the club’s colossal tax debt from 106 to 37 million euro in exchange of a strict commitment from Genoa to fulfil their obligations from now on.
As explained by Josimar, Genoa only managed to negotiate this settlement because they were able to prove that they were “in a crisis situation”. In other words, should the Italian taxman insist on a full payment, the club would go bankrupt and the government would not get a cent. When contacted by Josimar, Genoa responded that they would “kindly not prefer to respond” to our questions and referred instead to a club statement of which we reproduce a translation below (*).“
It may be January sales season but for Everton the only question is who’s buying. 777 Partners agreed a deal to purchase owner Farhad Moshiri’s majority shareholding back in September, but three months on, they are still awaiting Premier League approval to complete a takeover.
josimarfootball.com