Genoa, Italy’s oldest soccer team, is now owned by Romanian entrepreneur Dan ?ucu. The club revealed on Wednesday that ?ucu acquired a majority interest in Genoa after injecting 40 million euros (approximately $42 million) into the organization, resulting in a 77% ownership stake.

This change in ownership is seen as a promising development for Genoa, especially after a period of instability under the Miami-based investment group, 777 Partners. The club has expressed optimism that ?ucu, who also holds a 90% stake in Rapid Bucharest, can usher in a new era of “financial stability,” an essential need for the team as it navigates the complexities of its financial landscape.

Founded in 1893, Genoa was sold to 777 Partners three years ago, marking the end of Enrico Preziosi’s nearly two-decade tenure as the club’s owner. The team is historically significant, having won nine Italian league titles, with the last one earned in 1924. Currently, they sit in 13th place in Serie A, just two points clear of the relegation zone. However, since appointing Patrick Vieira as their coach last month, they have remained unbeaten, providing a glimmer of hope for fans and stakeholders alike.

Genoa described this transition in ownership as a pivotal moment for the club, emphasizing the ambition that ?ucu’s involvement will foster financial reassurance and stimulate new investments directed toward bolstering both the squad and the overall infrastructure of the team.

In Romania, ?ucu is well-known as the founder of Mobexpert, the country’s leading furniture company, and he has also made investments in the real estate and media sectors in Romania. His diverse portfolio and business acumen may position him to make meaningful contributions to Genoa as the club seeks stability and growth in the competitive world of soccer.