777 Partners might not pass muster with Premier League

According to Matt Hughes For The Daily Mail:

Everton's hunt for investment is facing another setback after Government officials expressed concerns over the club agreeing a deal with US firm 777 Partners.

Whitehall officials have discussed 777's suitability for buying into the Premier League and whether managing partner Josh Wander would pass the owners' and directors' test.

It comes after Everton suffered a significant blow last week when MSP Sports Capital withdrew from exclusive negotiations over a proposed £150million injection.

Toffees owner Farhad Moshiri has since resumed talks with 777, who had seen their offer of investment rejected in favour of MSP's bid in May. The Government's concerns about 777, who already have stakes in seven clubs including Sevilla, Genoa and Hertha Berlin, centre on their ongoing involvement in several court cases in the United States.

In addition to Wander pleading no contest for drug offences in 2003, 777 and sister company Sutton Park have been accused of multiple cases of fraud, offering illegal loans and failing to pay bills totalling hundreds of thousands of dollars. The alleged offences have been detailed in Josimar magazine, with proceedings still active in several cases.

The Government lack the power to block investment in clubs until a proposed new independent regulator is established, but are ready to raise the issue with the Premier League if a deal is agreed between Everton and 777.

The Premier League strengthened their owners' and directors' test earlier this year by increasing the list of disqualifying events to include offences such as violence, fraud and corruption, as well as bringing in new powers giving them the right to stop individuals becoming directors if they are under investigation for these offences.

It is unclear at this stage whether 777 would seek to make Wander a director at Everton, although the provisional deal which the club had agreed with MSP Capital included two seats on the board at Goodison.

Staff at UK Sport, the body responsible for administering funds to Olympic sports, have also expressed concerns about 777.

They had dealings with the Miami-based company through their involvement in basketball, as 777 bought a 45 per cent stake in the British Basketball League last year.

Everton and 777 both declined to comment.

I do wonder how high up in Government these so-called officials are, it's probably some intern and Liverpool fan talking to Matt Hughes in a wine bar somewhere in Soho.

Tom Cannon must be gutted to have only got 5 mins this season while Chermiti who was awful tonight has had over 70 minutes.

Surely Moshiri in his right mind thinks this is a good idea.

On the other hand…

Avoid these at all costs. Look at the damage they have done elsewhere.

After reading of their performance in management of their other clubs, they should be fended off with a bargepole.

I think it would be a train crash in slow motion. No team investment, No plan, No improvement, Relegation a strong(er) probability. So many red flags with them.

So just why would they want to buy? Again real estate. No!

Problem is, if Moshiri wants out and frankly doesn't care too hoots about anything other than the money, then life would definitely not improve.

No shit. I posted this point on ToffeeWeb last week. Unlike MBS they don't have oil sales or arms deals to enable turned blind eyes. Neither do they have money.

They sound absolutely perfect for the Moshiri - Kenwright clown show. Neither of these two have any love or devotion to Everton FC. They are in it to cut their losses and scarper.

Expect the worst from these two shysters.

So that's one non-owner sanctioned by the Government and now a non-investor while Bill watches on from the sunset in the Virgin Isles wondering where his Financial Guru is with the pension fund. Brings a new perspective to how we thought we mishandled player transfers.

Based on what we know, the Govt. should be warning those poor unsuspecting babes in the wood, 777, about Kenwright and Moshiri.

777 Partners seem more like scammers then investors. Don't think any of their invested teams have done well.

Good, we need to steer well clear

The problem is that Mosh just wants out with his money back and isn’t bothered who he sells to.

Barney Ronay in his look at the Chelsea ownership, shows how clubs are seen as investment opportunities, rather than a flagship for the local supporters. There is a method in the madness of Chelsea's ownership, but it's not one that can necessarily, be easily seen or welcomed by the ordinary fan. This is where Everton are headed one way or the other, it might not happen before we move to the new stadium, but these hedge-fund types will be out there waiting to pounce.

Dietrich Bonhoeffer’s much‑loved theory of stupidity has always maintained that fools are more dangerous than people with an actual plan. Football’s experience from here may just end up pointing the other way.

Fools, on the other hand … well, we know this world. Here they come, the footballing idiots, air‑guitaring in through the main entrance with nothing to declare but their own frat‑boy hyper‑disruptor genius, hurling armfuls of cash from a chinchilla fur‑lined helicopter gunship, signing Malo Gusto just to watch the world burn. Hello vainglorious spending project my old friend. Join the cue.

It isn’t hard to see a world where the legacy supporter, the subsidised coach traveller, with their growth‑free claim on the future, their ball and chain demands, is more of an obstacle than an enabler.

For all the current mess, the Clearlake-Boehly ownership is undeniably right about some things. The value of Premier League clubs will keep on rising. Some experts have predicted a doubling in value over the next five years.

Chelsea owners may see fans as obstacles in violent new world

Christine, who's got a bargepole nowadays?

You must catch up on Peter Kay videos.

Clive, when I were young we'd go down to cut an catch sticklebacks an watch as man on't barge opened swing bridge and pushed barge oft bank wid big pole..
The Swing bridge St Oswald's lane Netherton as a kid. I still remember falling in and the man with a pole telling me to grab it.
Some things are etched in memory. Barge pole, although I do admit Peter Kaye is funnier!

According to the FT Everton suitor 777 hails new era of football ‘hyper commercialisation’ Unfortunately I can't access the FT article as it says too many have accessed the page and therefore I have to subscribe. I'm hoping that some other ToffeeWeb member may have access, it sounds as if 777 are the stuff of nightmares, trying to sell everything to the 'fans' from pies to Insurance etc.

Access and exclusivity is key to hyper-commercialisation.

Christine 15. I actually just bought a very expensive barge pole, I thought I would push the boat out a bit.😀

Barry 16, is this the article?

Football clubs are entering a new era of “hyper commercialisation”, according to the co-founder of 777 Partners, the private Miami investment group that has emerged as one of the most acquisitive operators in the global game. The firm, which was unknown in the sports world five years ago, has snapped up hundreds of millions of dollars worth of stakes in clubs stretching from Italy to Brazil and is now eyeing an investment in Everton, its first Premier League target, according to several people familiar with the matter. Most of the clubs have been financial underperformers, raising questions about the returns on the firm’s investment, but Josh Wander, who set up 777 in 2015 with co-founder Steven Pasko, said in an interview that critics misunderstood the logic behind its bets. “We have a strong view that there’s a new wave of commercialisation coming to football,” he said, adding that 777 had paid attractive prices to invest in clubs that had “done a horrible job of commercialising the product”. Wander declined to comment on 777’s interest in Everton, but noted that the Premier League had done “a very good job relative to the other leagues of commercialising their product”. He said 777’s goal was “to be profitable by next season” across its portfolio of clubs, which include Genoa in Italy, Vasco da Gama in Brazil, Hertha Berlin in Germany and Standard Liège in Belgium. Everton, controlled by Anglo-Iranian businessman Farhad Moshiri through an Isle of Man entity, is another club in a weak financial position after several years of losses, a brush with relegation last season and the rising costs of a new stadium project. The indebted club recently ended months of exclusive negotiations with MSP Sports Capital, people familiar with the matter said. Wander and 777 are part of a trend towards multi-club ownership that is reshaping football and raising concerns at Uefa, its European governing body. But they have been dogged by questions since taking their first 15 per cent stake in Sevilla in 2018. “It’s so absurd to me that people say we’re not serious when we bought [stakes in] seven clubs in the last 18 months,” Wander said. “Is there anyone in the world that’s been more serious about buying football clubs in history than Josh Wander?” 777 had $9bn to $10bn of assets under management including a “close to $4bn insurance balance sheet”, he said. All of its funds had been generated by its own operations apart from $250mn it raised in preferred equity, he added. It is now looking to raise “a few hundred million” of equity and debt for its football holding company, in a process led by Tifosy Capital. Wander said it had held discussions with Saudi Arabia’s $650bn Public Investment Fund, but “nothing came of it”. Wander and Pasko built 777 from early investments in “esoteric” financial assets such as lottery winnings and structured settlements, in which defendants in lawsuits agree to pay damages over several years rather than as a lump sum. Recommended Sachin Khajuria What private equity means for football The firm’s holdings now span seven industries, including aviation, litigation finance and private credit, which Wander said shared a common theme of predictable long-term cash flows. In sports, he said, 777’s strategy includes moving players between its clubs, buying adjacent businesses such as ticketing and merchandise, and cross-selling products from its other companies. “The vision for this football group is that one day we’re not selling hot dogs and beers to our customers; [it’s] that we’re selling insurance or financial services or whatever,” he said. The intensity of fans’ engagement with their clubs meant “they want to be monetised”, he added. Wander said 777’s arrival on the high-profile stage of football dealmaking had brought with it “salacious” media coverage, including of a 2003 cocaine trafficking arrest that led to him being put on probation. “It was a stupid college thing. So all of the success that I’ve had has been in spite of the fact that every time I’ve tried to do something, somebody brings that up and throws it in my face,” he said. “And when I got involved in investing in sports, it became a perfect opportunity for those people that are haters to try to destroy you with things that are somewhat meaningless.”

"Hyper-commercialisation."

Pass the sick bag.

Even if it does perfectly describe the direction of the broader world - and the game. At least they're open and "honest" in a fashion.

777 had $9bn to $10bn of assets under management including a “close to $4bn insurance balance sheet”,

Pay off K&M then and tell them to f off! Money to mouth time 777.

At least they haven't been bombing Yemen for years. But don't tell that to the Tory government who are great at turning blind eyes for the good of the British economy.

Paul @19

Yes, I think that's the article, I notice the Echo are now running an abridged version of it via Dave Powell.

777 partners chief speak out

All their teams have done badly, and sit near the bottom of their respective divisions - ask any supporter of said teams and every one of them warns how dreadful they are, and how they wish their clubs had never had anything to do with them.

You can bet your bottom dollar Moshiri & Co will be more than happy to cosy-up with this bunch of jokers and sell us down the river.

I for one hope this does NOT come off.

The model he talks of (Hyper commercialisation) is the embodiment of capitalism, wring the customer for every penny whilst not spending a cent, and use somebody else's money to do it..

I even agree in part to what they say, that fans are intense and wouldn't be averse to buying "Everton Life Insurance" or "Everton FC Credit Card" but its the method and model 777 use to do so, leaving the host as a shell and not the body of the club, its purpose for existing, to play competitive football and strive to compete and win.

They want the cream off the top for as long as its giving without investing in the body of the club.

Buying the club and making the club successful are not the same thing. For all its complaints, Newcastle and Man City are the opposite in terms of investment, Saudi owned, the money invested in the club is to make the team successful. Not one 777 owned club is successful in the same manner.

Two models, totally different aims. Totally different outcomes.

777 Article in the FT today
Everton suitor 777 hails new era of football ‘hyper commercialisation’ Miami investment group says cross-selling opportunities justify its bets on struggling clubs

Josh Wander, co-founder of 777, said the group’s goal was ‘to be profitable by next season’ across its portfolio of clubs © Genoa FC
Andrew Edgecliffe-Johnson and James Fontanella-Khan in New York YESTERDAY
Football clubs are entering a new era of “hyper commercialisation”, according to the co- founder of 777 Partners, the private Miami investment group that has emerged as one of the most acquisitive operators in the global game.

The firm, which was unknown in the sports world five years ago, has snapped up hundreds of millions of dollars worth of stakes in clubs stretching from Italy to Brazil and is now eyeing an investment in Everton, its first Premier League target, according to several people familiar with the matter.

Most of the clubs have been financial underperformers, raising questions about the returns on the firm’s investment, but Josh Wander, who set up 777 in 2015 with co-founder Steven Pasko, said in an interview that critics misunderstood the logic behind its bets.

“We have a strong view that there’s a new wave of commercialisation coming to football,” he said, adding that 777 had paid attractive prices to invest in clubs that had “done a horrible job of commercialising the product”.
Wander declined to comment on 777’s interest in Everton, but noted that the Premier League had done “a very good job relative to the other leagues of commercialising their product”.

He said 777’s goal was “to be profitable by next season” across its portfolio of clubs, which include Genoa in Italy, Vasco da Gama in Brazil, Hertha Berlin in Germany and Standard Liège in Belgium.

Everton, controlled by Anglo-Iranian businessman Farhad Moshiri through an Isle of Man entity, is another club in a weak financial position after several years of losses, a brush with relegation last season and the rising costs of a new stadium project. The indebted club recently ended months of exclusive negotiations with MSP Sports Capital, people familiar with the matter said.
Wander and 777 are part of a trend towards multi-club ownership that is reshaping football and raising concerns at Uefa, its European governing body. But they have been dogged by questions since taking their first 15 per cent stake in Sevilla in 2018.

“It’s so absurd to me that people say we’re not serious when we bought [stakes in] seven clubs in the last 18 months,” Wander said. “Is there anyone in the world that’s been more serious about buying football clubs in history than Josh Wander?”
777 had $9bn to $10bn of assets under management including a “close to $4bn insurance balance sheet”, he said. All of its funds had been generated by its own operations apart from $250mn it raised in preferred equity, he added.

It is now looking to raise “a few hundred million” of equity and debt for its football holding company, in a process led by Tifosy Capital. Wander said it had held discussions with Saudi Arabia’s $650bn Public Investment Fund, but “nothing came of it”.
Wander and Pasko built 777 from early investments in “esoteric” financial assets such as lottery winnings and structured settlements, in which defendants in lawsuits agree to pay damages over several years rather than as a lump sum.

The firm’s holdings now span seven industries, including aviation, litigation finance and private credit, which Wander said shared a common theme of predictable long-term cash flows. In sports, he said, 777’s strategy includes moving players between its clubs, buying adjacent businesses such as ticketing and merchandise, and cross-selling products from its other companies.

“The vision for this football group is that one day we’re not selling hot dogs and beers to our customers; [it’s] that we’re selling insurance or financial services or whatever,” he said. The intensity of fans’ engagement with their clubs meant “they want to be monetised”, he added.
Wander said 777’s arrival on the high-profile stage of football dealmaking had brought with it “salacious” media coverage, including of a 2003 cocaine trafficking arrest that led to him being put on probation.

Just fuck them off

Christine - indeed.

Stephen - he sounds like a real saviour, a latter-day Robin Hood.

If 777 think they’re going to make serious money but selling financial products to Everton fans then they are smoking sometime real special. Just do the maths. The club needs tens of millions in extra revenue annually realistically and most of the current revenue is from TV (Sky). The sponsorship and advertisement income is a pittance compared to the big clubs and realistically its this and clever player trading where the club should be focusing on from a financial perspective.

They’re having a laugh if they think they’re going to generate multiple millions from selling insurance and offering credit cards to EFC fans. The fact they’ve failed to do this at other football clubs is already a massive red flag. And the fact that I don’t know of any other premier league club generating most of their income from directly fleecing their fans.

These guys sound like a bunch of chancers with no real plan on how to improve the on pitch aspect of the club, which any proper investor would/should focus on. If the team isn’t successful and god forbid gets relegated, the club on current finances is in administration. The Sky money is the current life support machine. Improve the team, get up the league table, maybe even win something now and again, and guess what, your fan base grows and your revenue with it.

Not exactly rocket science. Just needs some decent owners to start with.

Yesterday, Paul Brown said:
“The word is still that 777 Partners are favourites to buy a minority stake in the club. Other than that, there doesn’t seem to have been any progress made with any other groups on a sale or an investment coming into the club.

“777 seem very confident that they will be able to buy in, so we’ll have to watch what happens there. I think many people would have concerns if that group was to buy into the club.

“I know that concerns have been raised about them in the basketball world because they own both the London Lions and part of the league itself.

“I believe that has caused some issues and that there are questions inside UK sport and government circles and about this group’s suitability to be an investor in sports in this country.

“So, there could be some difficulties there. We will see. Source: Givemesport via Goodison News.

My personal view is that nothing will happen until January 2024 at the earliest, there's no rush for investment, as the sales and release of several players should cover the wage bill, between now and the New Year. The MSP £100m loan, should cover the continued build of the stadium for a period of time.

Then we have the upcoming P & S hearing in late October and the likelihood that 2023's accounts will have to be submitted early, because we're on the naughty step.

All of the above only applies if Moshiri, decides to continue as Everton owner, he may well take the first and possibly only serious offer that comes his way, and if that is from "777", I fear for our future as a Premier League club.

The 777 group just sound the worst sort of American carpet baggers with a less than impressive investment record at other clubs peddling millions rather than the billions needed.

Not that the self exiled Moshiri will give a shit. This Jonah of English football has really done a number on us - the quicker he's out the better.

777 have obviously asked “what would Everton do?” Well we KNOW what they can do FFS waste near a billion pound - screw up the playing side - make false claims against the fans - take a vow of silence and let the rot firmly set in - oh and if these 777 idiots want to LOSE money they’ve come to the right club - just ask the two 🤡🤡 in charge 🤷

Moshiri has been getting quite a bit of interest in Everton, but I’m not sure what type of serious offer would be enough for him to sell Everton though. It’s incredible how quiet the fans have been since the three amigo’s departed, but one of the cleverest players in the clubs history has still managed to cling on once again.

I actually don’t think he’s clever, but you can’t argue with the amount of people he has kidded, since he got on board at Everton, and he has also consistently shown over many years how to take the sting out of the fans, by simply reverting to silence.

Hurry up and sell something you have no real interest in Mr Moshiri, and please take Mr Kenwright with you.

Pity we didn't have this fit and proper thing when The World's Greatest Evertonian took over…