by blythspartan » 31 Jul 2023 14:02
by windermereROYAL » 31 Jul 2023 14:15
by Brogue » 31 Jul 2023 14:23
by Stranded » 31 Jul 2023 14:25
windermereROYAL So all top flight clubs probably making profits to us haemorrhaging money? that makes sense.
by WestYorksRoyal » 31 Jul 2023 14:26
by Brogue » 31 Jul 2023 14:29
WestYorksRoyal Their strategy talks about identifying undervalued assets. That will be us thanks to Dai's tenure. I don't really know enough. A lot of people like to assume US private equity is bad, and of course they will be looking to profit from us. But if that profit is through getting us up the leagues and performing better, what's the problem? They certainly can't make any sizeable return on us in L1.
by Royalwaster » 31 Jul 2023 14:44
Brogue its an American investment fund called 777 Partners. They got wind of the club being for sale after George Puscas deal - they own 99% of Genoa
They have stakes in;
Sevilla FC 7.5%
Genoa C.F.C 99%
CR Vasco da Gama 70%
Standard Liège 100%
Red Star F.C 100%
Melbourne Victory FC - unsure - minority stake
Hertha BSC 64.7%
by Stranded » 31 Jul 2023 14:47
Founded in 2015 by Steven Pasko and Josh Wander as the result of a management buyout of SuttonPark Capital from PennantPark, 777 Partners initially applied its expertise in underwriting and financing esoteric assets to diversify across a broad spectrum of financial services businesses, asset originators, and financial technology/service providers. In recent years,[when?] the firm has broadened its mandate and now invests across seven afformentioned industries.[4]
Its first investment in soccer was to purchase a minority stake in Spanish La Liga club Sevilla FC in 2018.[5] In 2020, it elevated its share to 7.5%.[6]
In September 2021, 777 Partners bought 99.99% of Italian Serie A club Genoa C.F.C., the country's oldest club, founded in 1893. It became the sixth club in the league to have an American owner, and the transaction to buy the club from long-term owner Enrico Preziosi was estimated at €150 million.[7] The club hired former A.C. Milan and Ukraine striker Andriy Shevchenko in November, firing him in January 2022;[8] Genoa ended the season relegated (as did another US-owned team, Venezia FC),[9] but were immediately promoted back into the top division in May 2023.
In February 2022, 777 Partners bought 70% of CR Vasco da Gama, a Campeonato Brasileiro Série A club from Rio de Janeiro for R$700 million, valuing the club at R$1.7 billion. The transaction was the biggest in the history of Brazilian football, and came off the back of a change in legislation allowing clubs to adopt new legal structures by becoming limited companies and sourcing finance from private equity markets.[10][11] There have been various protests against the ownership of the club due to the perceived lack of investment and poor league positioning. Under its ownership, Vasco da Gama has had its worse start ever to a league season.[12]
In March 2022, 777 Partners bought 100% of Standard Liège in the Belgian Pro League for €55 million.[13] The following month, it bought Red Star F.C. of the French third-tier Championnat National; the club was founded in 1897 by Jules Rimet, who was later president of FIFA. The takeover was met with backlash due to the club's working-class and left-wing history, and concerns that the club would become a farm team for 777's other assets. Former presidential candidate Jean-Luc Mélenchon was one of several politicians to sign a letter published in Le Monde, stating "For us, Red Star is a common good that cannot be sacrificed on the altar of profit."[14]
In October 2022, 777 Partners bought a minority stake in Melbourne Victory FC of the Australian A-League Men.[15] The following March, the company took a 64.7% stake in Hertha BSC of the German Bundesliga after its sale by Lars Windhorst, who had been majority shareholder since 2019.[16]
In 2019, 777 Partners bought the London Lions, London's sole professional basketball team. They then invested £7 million for 45% of the British Basketball League (BBL). Under 777, the Lions and the BBL have garnered significant attention, having sold a slight minority stake in the London Lions to O.G. Anunoby and becoming the first British team to ever qualify for EuroCup playoffs.[17]
Outside of sports, 777 has assets in aviation. It owns Canadian company Flair Airlines and Australian based Bonza, both of which are low-cost carriers.[5][18] It also invests in and develops travel technology under its "GO7" subdivision, which provides ticketing and distribution services to over 185 network, low-cost carriers, regional airlines and rail operations globally
by Stranded » 31 Jul 2023 14:52
by YorkshireRoyal99 » 31 Jul 2023 15:13
by Esteban » 31 Jul 2023 15:17
StrandedwindermereROYAL So all top flight clubs probably making profits to us haemorrhaging money? that makes sense.
They likely see the club as undervalued and with the potential to play at a higher level with the right investment. Hard to warm to an investment company looking at taking over but they should at least be able to pay the bills and likely leave the football people alone to do the football stuff.
by Sutekh » 31 Jul 2023 16:13
by Stranded » 31 Jul 2023 16:24
Sutekh I think it'll be an additional investment split, e.g. 45% with 777 leaving Dai with the controlling 55%. Anyway we shall have to wait and see...
by Royalwaster » 31 Jul 2023 16:55
StrandedSutekh I think it'll be an additional investment split, e.g. 45% with 777 leaving Dai with the controlling 55%. Anyway we shall have to wait and see...
Could be a similar model to Melbourne, where they buy in say 25% now with a commitment to purchase more shares to take full control by 2028.
by Clyde1998 » 31 Jul 2023 17:15
RoyalwasterStrandedSutekh I think it'll be an additional investment split, e.g. 45% with 777 leaving Dai with the controlling 55%. Anyway we shall have to wait and see...
Could be a similar model to Melbourne, where they buy in say 25% now with a commitment to purchase more shares to take full control by 2028.
Yes exactly - and that's why the transaction can go through quickly as it's not a complete takeover and how they can pay off the bill by tomorrow. Actually reading the wiki page, none of the protests sound that serious - no suggestion that they are an asset stripper or anything like that.
by Sutekh » 31 Jul 2023 17:36
Clyde1998RoyalwasterStranded
Could be a similar model to Melbourne, where they buy in say 25% now with a commitment to purchase more shares to take full control by 2028.
Yes exactly - and that's why the transaction can go through quickly as it's not a complete takeover and how they can pay off the bill by tomorrow. Actually reading the wiki page, none of the protests sound that serious - no suggestion that they are an asset stripper or anything like that.
This. It sounds like the main protests are about the owners not spending shedloads of money, which quite frankly isn't something anyone should be worried about as long as they'll pay the staff, pay tax and provide enough funds for us to compete at a reasonable level. Also there's no indication they take footballing decisions, another big plus as I think the current staff is competent just lacking the ability to carry out their plan.
by Linden Jones' Tash » 31 Jul 2023 18:44
by Snowflake Royal » 01 Aug 2023 22:36
by Elm Park Kid » 01 Aug 2023 23:23
Snowflake Royal The problem with an investment group is that their obvious goal is to make a return.
Football finances are in an abysmal state and making a return on most PL clubs is hard enough, let alone L1 or worse Championship.
So either they're clueless, and given how many clubs they've invested in they must have some appreciation for how shocking football finance is, they're looking to wash some money, or they think they can make a quick buck by getting us back up cheaply and selling on at a higher price quickly. Because the longer they have a stake in us, the less likely they are to make any sort of return.
On the plus side, it shouldn't be too expensive to get us back up within a few years, and if they just pay the bills it'd be a start.
by 3points » 04 Aug 2023 13:21
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