After having its appeal denied by the courts and losing control over Vasco, 777 Partners has put all its clubs up for sale, according to journalists Paul Brown and Phillip Auclair. The company is currently a partner in six teams spread across the world.
A 777 is experiencing a legal and financial crisis. The company is accused of fraud by the North American government, as it allegedly took out a loan of 350 million dollars (around R$1.7 billion at current prices) and gave as collateral funds that do not belong to it or do not even exist.
They are still accused by the English fund Leadenhall Capital Partners of serving as “puppets” for the American fund A-CAP and suffer from the precautionary seizure of assets in Belgium, where they are partners of Standard Liége.
In addition to Vasco da Gama and Standard Liége, the 777 is a partner of Genoa (Italy), Hertha Berlin (Germany), Red Star (France) and Melbourne (Australia). The company also has a minority stake in Spain’s Sevilla.
Source: Gazetaesportiva
Kingston is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
