Everton’s probable new owners already have a network of teams across Europe, but the results have been mixed.
If the Premier League approves a sale this autumn, Everton will become the eighth football club in 777 Partners’ stable.
According to sources close to the Miami-based investors, the club will have “access to a world-class team and its capabilities, as well as opportunities to share best practices and intelligence with the other clubs in their network.” According to 777, it will “have more scouts watching more games, collecting more data, allowing them to make smarter player trading decisions.”
However, for clubs that are already owned by 777, the results have been varied.
Genoa
Completed a takeover of Italy’s oldest professional club two years ago, obtaining 99.99 percent of the shares from industrialist Enrico Prezioni. The Italian team was relegated to Serie B at the end of the first season under the new owners, and the club was docked a point in February of this year for failing to pay unpaid taxes and payments on time for September and October 2022. The penalty could have been harsher, but 777 agreed to a plea bargain that showed there was enough money to make the outstanding amount.
“That was a very unfortunate administrative error,” said 777’s pal, according to Telegraph Sport. “The Italian Federation acknowledged that 777 was acting in good faith and reduced the penalty from two to one point.” It wasn’t a lack of funds, but rather an error in the scheduling of the payment. Steps have been taken to prevent anything like this from happening again.” Since they joined, the club’s owners believe the squad’s value has more than doubled.
Sevilla
Despite owning a 15% ownership in the Spanish squad since 2018, 777 has little boardroom power due to a feud with president Jose Castro. Los Americanos, as they are known in Seville, were brought into the club by Castro, but they have subsequently turned their support to Jose Maria Del Nido Benavente’s bid for re-election. According to reports, the present board has failed to listen to their suggestions for modernizing the club’s off-field activities. Investors argue that the squabble is preventing Sevilla from expanding and marketing.
Standard Liege
The Belgian club’s full takeover was completed in March 2022, but the connection with fans has soured amid charges of a lack of investment ambition. Earlier this month, irate fans put up a slew of banners reading 777 during a game against a rival, blaming a lack of spending in the most recent transfer window. Their spirits were not lifted after a 1-1 draw with newly promoted RWDM. After six games this season, they are still winless.
FC Red Star
Fans of Red Star, France’s famous third-tier club founded in 1897 by World Cup founder Jules Rimet, disrupted one match last year with smoke bombs in protest of 777’s impending takeover. Several lawmakers, including hard-left leader Jean-Luc Melenchon, signed an open letter in Le Monde daily condemning the accord.
“For us, Red Star is a common good that cannot be sacrificed on the altar of profit,” they wrote, pleading with the government to halt the sale and defend “a different vision of football.” Since closing the deal, the new owners have invested more than £9 million in the Stade Bauer stadium’s restoration.
Victory in Melbourne
Melbourne Victory shareholders adopted a proposal in February that will allow 777 to possess up to a 70% part in the club within five years, in a staggered investment comparable to the flow of monies in the Everton agreement. The Americans planned to contribute up to £20 million in the club’s development. Richard Wilson, a former shareholder who quit in 2021, raised alarm.
“It effectively wipes out the value of the shares [for up to five years],” Wilson explained. “It makes selling a shareholder’s shares nearly impossible.” You could sell to someone who will walk right into a minority position with worthless shares.”
Berlin, Hertha
Hertha’s relegation from the Bundesliga after a decade in the top flight has impeded efforts to create a new fan base. Lars Windhorst, a German banker, recently stated he had negotiated a performance-based arrangement with 777, which mimics the concept agreed by Farhad Moshiri. Windhorst paid €65 million (£56 million) for the German club, which was offset by a loan previously given by the US investment group valued at €50 million (£43 million). Despite owning a majority ownership in the club, 777 does not have majority voting rights due to German rules safeguarding fans.
Vasco da Gama (Vasco da Gama)
In February of last year, a 70% controlling stake in the Brazilian second tier club was purchased, and the team has shown to be a success thus far after promptly gaining promotion to Série A. The club purchase was the largest in Brazilian football history, since revisions in national business legislation allowed foreign investors to invest in the South American country for the first time.
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