777 Partners could look to push through the sale of their interest in Belgian side Standard Liege after investment bank Moelis & Co. were hired to review the beleaguered firm’s football assets.
According to Bloomberg, Advantage Capital Holdings LLC (A-Cap), one of 777’s key lenders who reportedly underwrote much of the Miami company’s acquistions as it built its stable of clubs under 777 Football Group, have appointed Moelis amid reports that they’ve been brought in to oversee the sales process for Standard.
Standard Liege, a struggling former giant of Belgian football, have been owned by 777 Partners since 2022 but have endured a slew of financial problems that have resulted in three temporary transfer bans and almost saw the club lose its license to participate in the Belgian Pro League over late payment of staff wages, transfer fees and monies due former owner Bruno Venanzi.
Earlier this month, a Belgian court seized 777’s football assets in Belgium over the dispute with both Venanzi and the shareholders in Standard’s stadium.
This latest development casts further doubt on 777 Partners’ ability to meet the conditions set out by the Premier League for approval of their takeover of Everton, the Share Purchase Agreement for which expires next week.
The outcome of Moelis’ review might also be the forced liquidation of all of 777’s footballing assets as A-Cap seek to recover an estimates $2bn in funds loaned to Josh Wander and Steve Pasko’s company and associated assets in recent years.