Italy's oldest football club Genoa to be put up for sale

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Genoa, Italy's oldest professional soccer club, will be put up for sale, the Serie A outfit said in a statement.

Founded in 1893, the club has been owned by Enrico Preziosi, head of Italy's largest toy manufacturer, for the last 16 years.

Genoa's cricket and soccer club announced that "a mandate had been given to Assietta S.p.A., a financial advisory firm specialized in corporate finance, as an advisor for the sale of the company," according to the statement.

The announcement came with Genoa one point and one place above the Serie A relegation zone with two matches to play.

Genoa's president Enrico Preziosi looks on before his team's Serie A match against Napoli at Luigi Ferraris Stadium in Genoa, Italy, August 30, 2014. /VCG Photo

Preziosi took over in 2003 with the club in Serie B, saw them promoted four years later and has since established them as a top-flight club.

However, it has been far from plain sailing and he has employed 14 coaches during his time in charge, some of them on several occasions.

He has been trying to sell the club for several years amid poor results which have sparked protests by the fans.

(Top image: Genoa players celebrate after the Serie A match during which they had a 2-1 win over Cagliari Calcio at Luigi Ferraris Stadium in Genoa, Italy, April 3, 2018. /VCG Photo)

Source(s): Reuters