FEATURE | Red Star & Red Flags: can 777 Partners be trusted with Everton?
Seven club acquisitions in 18 months, allegations of fraud, offering illegal loans, and failing to pay bills totalling hundreds of thousands of US dollars. These will all be subjects to breach at the Premier League owners “fit and proper persons” test, as American investment firm 777 Partners begin the process of acquiring Everton FC.
It has been two weeks since the announcement that the sale of the Merseyside club was agreed between Farhad Moshiri and 777 Partners. To the avid Get French Football News reader, this name is rather familiar.
The firm already holds stakes in eight football clubs – including Genoa, Sevilla, Vasco Da Gama, Standard Liège, Hertha Berlin, Melbourne Victory, and French third tier side Red Star FC. Not only does the firm have investments in football, but also in Basketball – as owners of London Lions, and 45% of the British Basketball League itself.
The rumoured bid for Everton saw English media spring into life to try and ascertain the motives behind 777’s mass acquisition strategy. It followed an explosive article from Norwegian outlet Josimar, who revealed that the Miami-based firm is embroiled in several court battles in the US involving predatory lending, fraud, and the failure to pay bills totalling hundreds of thousands of US dollars. This is not to mention charges of cocaine-trafficking levied against co-founder Josh Wander, something that the American later said was a “stupid college thing.”
Reports from The Telegraph also revealed that Premier League is facing pressure from concerned senior figures in the UK Government over the sale, with sources expressing doubt over the suitability of 777. But what is the outlook currently in France?
Is it still “777 Not Welcome” in Saint-Ouen?
At the
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