Everton takeover: ECHO reporter Chris Beesley chats with reporters covering 777-owned clubs throughout the world to learn the truth about the potential Everton owners.
How have 777 Partners, Everton’s prospective owners, been treated at the other teams they own?
ECHO Everton correspondent Chris Beesley has been busy contacting journalists all over the world to find out what people think about the Miami-based private investment firm in the group’s current locations.
Genoa FC, Italy (purchased in September 2021)
“Overall, my opinion is extremely positive,” says Filippo Grimaldi of Gazzetta dello Sport. Josh (Wander) is in charge. The lord.
“There is no doubt that they have healed Genoa.” It appears to me that they have abandoned the idea of conducting business in Genoa, trying first and foremost to make the company safe, which they are accomplishing.”
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Brazil (February 2022), Vasco da Gama
“Everton fans should be very concerned,” says Rodrigo Calvozzo, a freelance journalist based in Rio de Janeiro. “Since joining the 777 group, Vasco has been experiencing confusing times both on and off the field.”
“Since the arrival of 777 at Vasco, there have already been several protests.” The main reason is a lack of sporting results, which disappointed many fans who believed in the group’s statement when it arrived in Brazil, guaranteeing them that it would make equivalent investments to the richest clubs in the country, such as Flamengo and Palmeiras.”
Liege, Belgium (March 2022) Standard
“At Standard, they have injected €27 million, but it is for the day-to-day running of the club, not for transfers,” says Frederic Bleus, journalist for L’Avenir and La Dernière Heure-Les Sports.
“Their official statement states that they want to return the club to competing at the top of the table, but on the other hand, they haven’t provided too much money – certainly in terms of squad building – and the team is having to operate with fewer funds.” They completed four transactions in the final 36 hours of the transfer window after selling Aron Donnum to Toulouse for more than €4 million.
“Without that sale, it would not have been possible, and we know that the owners were trying to persuade one of their Genoa players to come, but Harkin said he did not want him.” We believe that 777 Partners tries to stay local and cooperate with their own clubs.”
France (April 2022), Red Star FC
“Red Star is originally a politically left-wing club, and it is certain that the arrival of an American investment fund at the head of their club was not their first wish,” writes Arnaud Hermant of L’Equipe. Yes, they protested, with banners at various games and demonstrations, but I believe the protests have subsided since then.
“It is certain that the clubs in the 777 galaxy will benefit, in my opinion, from the reservoir of young footballers that their recruiters will be able to identify in the Paris region.” Red Star and Everton are both historic clubs, therefore my advice to Everton fans is to “wait and see” and “give the product a chance.”
Melbourne Victory (February 2023), Australia
“Victory’s shareholders approved a proposal earlier this year at an EGM that would allow 777 Partners to take on up to a 70% stake in the club in exchange for a series of investments totaling AU $30 million over the course of four to five years,” writes Melbourne-based freelance journalist Joey Lynch. During this time, the group has the option of walking away from the deal and being reimbursed their investments (just the incremental investments, not the initial one that secured a 19.9% ownership in the club) at a 10% per year compounding interest rate.
“Given how favorable these terms were, even with the clarification that 777 Partners won’t be able to recoup that initial AU $8.7m outlay, it has raised significant eyebrows, prompting Kieran Maguire to label them a “Vampire Lender” on The Price of Football Podcast.” It appears to be a very nice deal for 777 Partners.”
Hertha BSC (March 2023), Germany
“777 operates primarily in the background,” writes Inga Böddeling of the Berliner Morgenpost. Josh Wander is almost seldom seen, neither in Berlin nor at the stadium. It’s a much quieter operation than it was under Lars Windhorst (Hertha’s former investor).
“777’s athletic performance was secondary. Their primary goal was to financially repair the club.
“I completely understand the fears of the Everton supporters since 777 would have a far greater impact on the club if it weren’t for the 50+1 regulation that applies in Germany, which limits investors to a maximum of 49% of the voting rights.
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