777 Partners, owner of Vasco’s SAF, is close to buying another traditional world football club. According to press outlets in the United States, 777’s home country, and England, the company has advanced in negotiations for the acquisition of Everton, which competes in the Premier League. According to “Bloomberg”, the agreement could be announced this week.
Also according to the “Daily Mail”, the negotiation for the purchase of Everton should cost around 600 million pounds (R$ 3.7 billion). In May, the English and American press had already reported 777 Partners’ interest in purchasing the English club, but British-Iranian businessman Farhad Moshiri, current owner, reportedly denied the offer. However, with the team in crisis and protests from fans, Moshiri would now be interested in recovering part of what he invested in the club.
Moshiri bought shares in Everton in 2016 and gradually increased his stake in the club. He currently owns 94% of the Toffees. According to “Sky News”, since 2016, he has invested around 750 million pounds (R$4.6 billion) in the Liverpool club.
Everton have battled relegation in the Premier League for the past two seasons. And, it seems, the scenario will repeat itself in 2023/24. In the first four rounds of the current season, the Liverpool club scored just one point and is in 18th place, within the relegation zone.
Business between 777 and Everton has already caused controversy at Vasco
After the news about the negotiations between 777 Partners and Everton were released by the European press, the Norwegian website “Josimar Football” published, in July, a long article with the title “The 777 football mystery” (“The mystery of football in the 777). The article detailed some behind-the-scenes details of the American company’s operations in the world of football.
The article pointed out that 777 Partners’ business model would not be financially viable and questioned the origin of the company’s money. According to “Josimar Football”, 777 received an initial investment from the funds Boich Investment Group and Leadenhall Capital Partners. Later, he also received money from private equity funds and individuals who were not identified. Furthermore, according to a former employee who did not identify himself, the company works by “moving money from one side to the other, always with the same money”.
At the time, representatives from the Vasco Association demanded responses from SAF and 777 Partners. In a statement, the American company said that “the article was intentionally structured to mislead and undermine 777 efforts in various sectors, reflecting ignorance and misinformation about investment models in aviation and football.”
Josh Wander is a founding partner at 777 Partners (Photo: Icon sport)
Everton could be another traditional club in 777’s portfolio
If you include Everton in your portfolio, 777 Partners will have another traditional club that is going through a time of crisis. In addition to Vasco, which was purchased when the team was in the second division, the American company also owns Hertha Berlin, which was relegated from the German Championship last season, and Genoa, which was in Italy’s second division and returned to the Series. A this season.
777 Partners also owns the traditional Standard Liège, from Belgium, and Red Star, from France. Recently, the company also purchased Australia’s Melbourne Victory. In addition, 777 also has a small stake (5%) in Sevilla, from Spain.
How is Vasco’s situation with 777 Partners
In 2022, Vasco underwent transformation into SAF and the partners approved the sale of 70% of the shares to 777 Partners. The American company committed to investing R$700 million over four years, and could also assume up to R$700 million of the club’s debt. To date, the company has already invested R$190 million in Cruz-Maltino. By the end of September, another contribution of R$120 million must be made. A large part of this R$190 million was used for football operational expenses and recruitment, in addition to paying debts.
777 took over Vasco football during the 2022 Series B (Photo: Daniel Ramalho/Vasco)
However, contrary to what was imagined, Vasco has been going through troubled times since 777 Partners took over the club’s football. The American company started to manage Cruz-Maltino during the 2022 Series B, but when the transfer window was close to closing. Therefore, no new signings were made and Vasco only confirmed access in the last round.
In 2023, in the first transfer window, 777 Partners invested around R$110 million in signings. But, on the field, the team, led by Maurício Barbieri, did not respond. Eliminated in the early stages of the Copa do Brasil and with a poor start to the Brazilian Championship, the coach was fired. And the crisis extended beyond the pitch, with the departure of CEO Luiz Mello, who had a troubled relationship with the Association and Vasco fans.
2023-09-12 16:08:00
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