Targeted by 16 complaints filed in New York court for fraud and unpaid debts, the 777 Partners empire is on the verge of implosion. The Miami-based fund notably owns five football clubs: Genoa (Italy), Standard de Liège (Belgium), Vasco da Gama (Brazil), Hertha Berlin (Germany) and Red Star. According to the Josimar media, Josh Wander and Steve Pasko were even removed from the board of directors of the football division of 777 Partners after bankruptcy specialists were called.
The announcement of these suspicions of fraud against the owner of the National champion has reignited tensions between management and the Kop Rino Della Negra, which has displayed its hostility to the takeover by 777 for two years. Very active on the networks, the Red Star supporters group has planned a day of action on Saturday May 18 before the last match of the season against Épinal. A procession will notably leave at 3 p.m. from the town hall of Saint-Ouen with the slogan “Let’s fight multi-ownership – Let’s celebrate the rise. »
In this rather explosive context, we still remain calm internally at Red Star. As we explained, the club, which more than doubled its budget this season under the leadership of 777, continues to prepare for the new season and in particular the passage before the DNCG at the end of the month, with its shareholder.
And contrary to what some have suggested, the decision to leave the club taken by Habib Beye is not linked to the concerns of 777, even if it came at the same time.
Official press release
Following the various information published in the press over the previous days concerning 777 Partners, the @RedStarFC would like to provide the following clarifications regarding the situation of the club […] ⤵️— Red Star FC ✪ (@RedStarFC) May 13, 2024
“Following the various information published in the press in recent days concerning 777 partners, Red Star FC would like to provide the following clarifications concerning the club’s situation: the club would like to affirm that to date the 777 Football Group has not only fulfilled all its obligations towards Red Star, but also regularly exchanges with the club on the budgetary construction of the 2024-2025 season in anticipation of its passage before the National Directorate of Management Control,” the club wrote this Monday in a press release .
