Boehly and Balotelli? Chelsea owner in shock takeover link

Tom Weber

Updated: 9 Oct 2024 10:00 CDT
3 min read

Chelsea owner Todd Boehly has become the subject of links to Serie A side Genoa.

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Italy's oldest club once again find themselves in trouble due to their ownership. The chickens have come home to roost for controversial American investment firm 777 Partners and their footballing empire, stretching from Brazil to Germany, is now at risk of collapse.

Josimar reported in July that 777 had lost complete control of their footballing operations and the company is now bankrupt, which means that storied teams such as Vasco da Gama, Hertha BSC, Red Star, Standard Liege and, of course, Genoa are scrambling to find investors.

The end of 777 has felt inevitable for quite some time, with the American group repeatedly accused of questionable business practices and outright fraud. Despite this, they tried - and failed - to acquire Everton earlier this year.

Back in May, A-CAP, a linked company that had seized 777's footballing operations, were compelled to take out a €40 million loan. This injection of funds was provided by GD Luma, owned by Chelsea and Dodgers bigwig Todd Boehly, which has given rise to suggestions that the American could save Genoa.

Boehly not interested in Genoa

However, local outlet Secolo XIX has now set the record straight and dismissed the rumours that Boehly could seek to acquire the Ligurian side or that he could try to salvage what is left of 777.

Boehly's current focus is solely on Chelsea and the reported 'civil war' with Clearlake Capital, which has seen both parties express a willingness to buy the other out to increase their stake in the club and assume full control of footballing operations.

Amid all of this, Genoa are struggling to remain competitive in Serie A. After an encouraging first season back in the top flight, second-season syndrome has hit Alberto Gilardino's team hard and they currently sit in 18th with five points from seven games.

In light of their early-season struggles, Genoa have reportedly made contact with former Italy striker Mario Balotelli, who is currently a free agent after leaving Adana Demirspor for a second time in the summer.