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Genoa owner and president Enrico Preziosi said on Monday he had sold the Italian top-flight soccer club, ending a sometimes turbulent 14 years at the helm.
“I’ve sold the club,” the 69-year-old businessman told the Telenord television station. “The documents will be signed at the end of this season or the start of the next. In the next interview, I will no longer be president of Genoa.”
Preziosi, the head of one of Italy’s largest toy manufacturers, was the subject of fan protests last season as the team slumped to a 16th place finish in Serie A after a promising start.
Preziosi took over the presidency in 2003 with Genoa in the second tier.
The club thought they had won promotion in 2005 but were instead relegated to the third tier after the Italian league found Genoa guilty of match-fixing.
Preziosi was banned for five years although this was later annulled on appeal.
Genoa finally won promotion to the top flight in 2007 although Preziosi was given another five-year ban, this time for irregularities in financial dealings with his former club Como, which was also later annulled.
The team enjoyed some good seasons after that, finishing fifth in 2009 and sixth in 2015, however this led to more controversy as they missed out on European football because they were late filing paperwork.
Genoa, founded in 1893, are one of Italy’s oldest clubs and have been national champions nine times although the most recent of those titles was back in 1923-24.