777 Partners

777 Partners

Company type	Private
Industry	Investment
Founded	2015
Headquarters	Miami , United States
Products	Investments in sports teams (soccer clubs, basketball), airlines, entertainment

777 Partners is a private investment firm based in Miami, established in 2015. The company has expanded its portfolio by acquiring multiple soccer teams such as Genoa CFC (Italy), Standard Liège (Belgium), Red Star FC (France), CR Vasco da Gama (Brazil), and Hertha BSC (Germany). It also holds a minority interest in Spain’s Sevilla FC. Previously, 777 Partners owned the London Lions basketball franchise and maintained a substantial minority position in the British Basketball League (BBL). Furthermore, it is an investor in the budget airline Flair Airlines.

The firm has encountered several legal challenges related to alleged payment defaults in both the U.S. and Belgium, with courts authorizing asset seizures. Similarly, Canadian authorities confiscated its aircraft due to comparable disputes. Its airline venture, Bonza, entered voluntary administration in 2024, the same year the BBL lost its operating license. In July 2024, A-CAP, an American insurance company and investor in 777 Partners, notified all associated soccer clubs that it had taken over ownership.

Soccer

Sevilla

The first soccer-related investment by 777 Partners was acquiring a minority shareholding in Spanish La Liga side Sevilla FC in 2018, which rose to 7.5% ownership by 2020. Their stake is held through Sevillistas Unidos S.L., rather than direct equity holding, sparking disagreements regarding the use of Sevilla’s branding on 777’s website.

Sevilla was chosen for investment due to its player trading model under sporting director Monchi. This move was met with skepticism because of the club’s longstanding tradition of local ownership. Reports suggest part of 777’s financing originated from a loan provided by Russian businessman Oleg Boyko, who in 2024 reportedly sought to use 777’s shares in Sevilla as collateral.

Genoa

In September 2021, 777 Partners purchased a 99.99% stake in Italian Serie A club Genoa CFC for roughly €150 million, making it one of the rare American proprietors within Italy’s top division. Genoa appointed former AC Milan forward Andriy Shevchenko as head coach but dismissed him after just two months. The team was relegated in 2022 but achieved immediate promotion back to Serie A by May 2023.

By May 2024, fans of Genoa displayed a degree of acceptance toward 777’s stewardship, partly due to previous mismanagement under former owner Enrico Preziosi. During their promotion campaign, the club incurred a one-point deduction because of delayed tax payments.

On December 18, 2024, Romanian entrepreneur Dan Șucu—owner of FC Rapid București and Mobexpert—acquired a controlling 77% interest in Genoa for €45 million. The following day, A-CAP challenged this sale; however, Genoa’s board confirmed that the transaction had been finalized.

Vasco da Gama

In February 2022, 777 Partners secured a 70% ownership stake in CR Vasco da Gama, a Campeonato Brasileiro Série A team based in Rio de Janeiro, for R$700 million, valuing the club at R$1.7 billion. This deal represented the largest financial transaction ever completed within Brazilian football, following legislative reforms that allowed clubs to convert into limited companies and access private equity funding.

Despite this significant investment, fan protests arose during the 2023 Campeonato Brasileiro Série A season amid fears of relegation. Although the club avoided demotion and signed players including French international Dmitri Payet, supporter unrest continued with incidents such as stadium vandalism occurring in May 2024. Shortly after taking control, 777 Partners aimed to align budgets with local rivals CR Flamengo, though plans for stadium renovations were delayed due to municipal land ownership issues. In May 2024, a regional judge suspended the acquisition agreement following delays in payments.

Standard Liège

In March 2022, 777 Partners acquired full ownership of Standard Liège, a club competing in the Belgian Pro League, for €55 million. By September 2023, fans expressed dissatisfaction over what they perceived as insufficient investment and a lack of ambition. In December 2023, national authorities imposed an indefinite transfer ban on Standard due to alleged delays in settling taxes, player wages, and transfer payments.

In May 2024, former owner Bruno Venanzi along with previous stadium proprietors initiated legal action to seize 777’s assets in Belgium over unpaid claims. That same month witnessed intensified fan demonstrations, including the obstruction of the team bus that led to a match postponement. Subsequently, a court authorized the seizure of 777’s Belgian assets. After transferring control of its football clubs to A-CAP, the latter put Standard up for sale in September 2024, although no firm offers had been received.

Red Star

In April 2022, 777 Partners took ownership of Red Star FC, a French club competing in the third-tier Championnat National. Established in 1897 by Jules Rimet, who later became FIFA president, the club’s working-class and leftist roots triggered opposition amid concerns it might serve as a feeder team within 777’s network. Political figures including former presidential hopeful Jean-Luc Mélenchon voiced their disapproval, publishing a letter in Le Monde describing Red Star as a "common good that cannot be sacrificed on the altar of profit." Local parliamentary representative Éric Coquerel has pushed for legislation to limit multi-club ownership. Red Star achieved promotion to Ligue 2 in 2024.

Melbourne Victory

In October 2022, 777 Partners acquired a minority interest in Australian A-League Men side Melbourne Victory FC for AU$8.7 million. By January 2023, shareholders approved provisions allowing 777 Partners to increase its stake up to 70% within five years, contingent upon AU$30 million in additional investment.

Following the voluntary administration of 777-owned Australian airline Bonza in 2024, Melbourne Victory’s playoff sponsorship transitioned to AIA Group, while a long-term partnership with Turkish Airlines is scheduled to commence in 2025.

Hertha BSC

In March 2023, 777 Partners purchased a 64.7% shareholding in Hertha BSC, a German Bundesliga club, acquiring it from Lars Windhorst, who had held majority ownership since 2019. Due to the German football 50+1 rule, control over the club remains outside of 777's hands. The acquisition sparked protests among Hertha supporters. By May 2024, The Athletic reported that opposition from fans toward 777 was comparatively less severe at Hertha than at other clubs within its portfolio, partially because of controversies linked to Windhorst’s previous management.

Everton bid

In September 2023, 777 Partners reached an agreement to purchase Farhad Moshiri’s 94.1% stake in English Premier League club Everton F.C.. However, by April 2024, with the transaction incomplete and following the voluntary administration of airline Bonza, Everton engaged insolvency advisors from Teneo. Amid ongoing legal disputes involving 777 in various jurisdictions, the Everton Shareholders' Association called on Moshiri to cancel the deal.

To facilitate the acquisition, 777 retained financial advisors from B. Riley Financial. Company lawyers confirmed that founders Wander and Pasko resigned from their managerial roles on May 6, 2024, though they continued as sole owners. The deadline for finalizing the purchase expired on June 1, 2024, leaving Everton exploring alternative ownership options.

Aviation

777 Partners holds ownership of the low-cost carrier Flair Airlines. In June 2022, the Canadian Transportation Agency determined that Flair qualifies as a Canadian airline, permitting it to operate domestic routes. This decision was influenced by 777’s 25% equity stake and its limited control over the board during the CTA's review.

On March 11, 2023, Airborne Capital Ltd. repossessed four Flair aircraft due to alleged overdue payments. Flair’s CEO Stephen Jones attributed these actions to rival companies, acknowledging the airline owed approximately US$1 million but was actively working to settle the debt. Airborne asserted that payments amounting to several million dollars had been missed over five months. Despite this, Flair maintained flight operations utilizing alternative planes. In January 2024, lessors initiated legal claims at the UK High Court seeking $1.8 million related to the seized aircraft.

From October 2021 until its entry into voluntary administration in April 2024, Australian carrier Bonza was under 777 Partners' ownership. The company was responsible for Bonza’s defaulted lease obligations. Following financial difficulties, Bonza’s administrators terminated all employees in June 2024 and proceeded with liquidation in July, citing inadequate financial support from 777 Partners amid escalating debts beginning November 2023.

In September 2024, the United States Department of Justice commenced an inquiry into 777 Partners and its investor A-CAP concerning suspected money laundering activities.

Other investments

In 2019, 777 Partners acquired the London Lions, the only professional men’s basketball team based in London, and invested £7 million to secure a 45% share in the British Basketball League (BBL). Subsequently, they sold a minority interest in the Lions to O.G. Anunoby, with the team becoming the first British club to reach the EuroCup playoffs.

In May 2024, financial issues prompted British Basketball to revoke the BBL operating company's license, causing the league's dissolution and replacement by Super League Basketball. By August 2024, administrators Hudson Weir approved the acquisition of the London Lions by Tesonet, known for developing NordVPN and owning Lithuanian squad BC Žalgiris. The new ownership retained former 777 vice president Lenz Balan as CEO.

In 2022, 777 invested in STX Entertainment, a global film production company recognized for titles such as Molly's Game, The Irishman, and Ferrari.

Controversy

During talks to acquire Vasco, Brazilian outlet O Globo disclosed that co-founder Josh Wander had a conviction from 2004 related to ordering cocaine by mail while attending the University of Florida. Facing up to 26 years in prison, he entered a no-contest plea and received a 15-year probation term concluding in 2018. This past conviction has been highlighted in media reports; Wander characterized it as a "stupid college thing" and dismissed detractors as attempting to discredit him.

The Norwegian football investigative platform Josimar reported accusations against 777 involving financial misconduct such as fraud and unpaid invoices. The firm responded by calling these allegations "wholly misleading." Several lawsuits allege unpaid debts and contract violations by 777 Partners, describing their financial operations as unstable—a "house of cards" and an extensive fraudulent scheme.

In May 2024, prominent investor Advantage Capital Holdings LLC (A-CAP) engaged Moelis & Company to conduct a portfolio review of 777 following concerns over loans secured against its assets. By July, A-CAP informed soccer clubs under 777’s ownership that it had taken control of them.

External links

• Company official site