Everton takeover: 777 Partners could lose control of club after judge ruling
US investment group 777 Partners faces losing control of one of the football clubs it already owns, according to reports.
The outfit, whose attempt to take over Everton looks destined to collapse amid a storm of problems for its wider business portfolio, is said to have now had its ownership contract with Brazilian side Vasco de Gama suspended.
The move was delivered in a court ruling in Rio de Janeiro - one that has also removed key 777 Partners figures such as co-founders Josh Wander and Steven Pasko from the club’s board.
Everton takeover: fear and uncertainty as statements issued over 777 Partners' clubs
Dominic Calvert-Lewin explains what he really thinks of new 'Bella Ciao' Everton anthem
The hearing, reported by Brazilian media organisation Globo on Wednesday night, said a judge sitting in the business courts had suspended the effects of the contract that saw 777 Partners acquire control of Vasco, removed the firm’s presence on the club’s board of directors and called for an independent examination of “accounting operations” called into question by the non-777 Partners officials on the board.
The group had acquired the Rio side in 2022. This season, Vasco consolidated its return to Brazil’s top flight by securing survival on the final day of the campaign. Globo reported that 777 Partners was understood to be up to date on its payments to the club, the latest to be hit with instability following a month in which the group’s operations have been buffeted by trouble.
A $600m civil lawsuit filed against 777 Partners in New York ramped up concerns about the viability of the group and its business practices and followed its Australian airline, Bonza, being entered into voluntary administration. The protracted struggle
Read on liverpoolecho.co.uk
