Everton will become the eighth football club in 777 Partners’ stable if the Premier League gives the green light to a sale this autumn.
Sources close to the Miami-based investors claim the club will benefit from “access to a world-class team and its capabilities, as well as have opportunities to share best practices and intelligence with the other clubs in their network”. 777 claims it will “have more scouts watching more games, collecting more data which enables them to make smarter player trading decisions”.
However, for clubs already under 777’s ownership structure, experiences have been mixed.
Genoa
Completed a takeover at the oldest club professional team in Italy two years ago, acquiring 99.99 per cent of shares from businessman Enrico Prezioni. The Italian club was relegated to Serie B at the end of the new owners’ first season, and then, in February of this year, the club was docked a point after failing to pay outstanding taxes and contributions on time for September and October 2022. The penalty could have been worse but 777 entered a plea bargain showing there were sufficient funds to cover the outstanding payment.
“That was a very unfortunate administrative error,” a friend of 777’s told Telegraph Sport. “The Italian Federation recognised that 777 were operating in good faith and reduced the penalty from two points to one. It wasn’t a matter of not having the funds, simply an error in the timing of the payment. Steps have been taken to ensure something like this doesn’t happen again.” The club’s owners believe the club’s squad value has more than doubled since they arrived.
Sevilla
Despite having a 15 per cent stake in the Spanish team since 2018, 777 do not have much boardroom influence due to a fallout with president Jose Castro. Los Americanos, as they are known in Seville, were invited into the club by Castro, but they have since switched to back Jose Maria Del Nido Benavente’s attempt to return as president. The current board, it is said, has refused to hear their ideas for modernising the club’s off-pitch activities. Sevilla are missing out on expansion and marketing opportunities because of the tussle, investors claim.
Standard Liege
Full takeover was secured in March 2022 for the Belgian club, but the relationship with fans has turned sour amid allegations of a lack of investment ambition. Earlier this month, angry supporters held up a host of banners calling out 777 during a game against attacking a lack of money spent in the most recent transfer window. Their mood was not improved after a 1-1 draw against the newly promoted RWDM. They remain winless after six matches this season.
Red Star FC
Fans of France’s cult third-tier outfit Red Star, created in 1897 by the World Cup founder Jules Rimet, disrupted one match last year with smoke bombs in protest against 777’s imminent takeover. Hard-left leader Jean-Luc Melenchon was among several politicians who signed an open letter in Le Monde daily denouncing the deal.
“For us, Red Star is a common good that cannot be sacrificed on the altar of profit,” they wrote, urging the government to scupper the sale and defend “a different vision of football.” Since completing the deal, the new owners injected more than £9million for the renovation of the Stade Bauer stadium.
Melbourne Victory
In a staggered investment that could prove similar to the release of funds in the Everton deal, Melbourne Victory shareholders backed a proposal in February that will allow 777 to own up to a 70 per cent stake in the club within five years. The Americans promised up to £20 million to invest in developing the club. Former shareholder Richard Wilson, who resigned in 2021, expressed concern.
“It effectively wipes the value of the shares [for up to five years],” said Wilson. “It makes it almost impossible for a shareholder to sell their shares. You could sell to somebody who’s going to walk straight into a minority position where the shares are worthless.”
Hertha Berlin
Hertha’s relegation after a 10-year stint in the top tier has hampered attempts to win over a new support base. German financier Lars Windhorst also recently confirmed he had struck a performance-related deal with 777, which mirrors the model accepted by Farhad Moshiri. Windhorst sold the German club for €65 million (£56 million), which was offset against a loan previously made by the US investment firm valued at €50 million (£43 million). Although 777 has a majority stake in the club, it does not retain majority voting rights because of Germany’s laws protecting fans.
Vasco da Gama
A 70 per cent controlling stake in the second tier Brazilian club was secured in February last year and stands out as a success so far after the team quickly secured promotion to Série A. The club purchase was the largest in the history of Brazilian football as changes to national company law had made it possible for foreign investors to buy into the South American country for the first time.
