Founded in 1893, the club has been owned by Enrico Preziosi, head of Italy’s largest toy manufacturer, for the last 16 years.
"Genoa Cricket and Football Club announces that a mandate had been given to Assietta S.p.A., a financial advisory firm specialised in corporate finance, as advisor for the sale of the company," said the statement.
The announcement came with Genoa one point and one place above the Serie A relegation zone with two matches to play.
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.
(Writing by Brian Homewood; Editing by Amlan Chakraborty)
