The two main creditors of 777 Partners in Belgium are asking for the seizure of all assets held by the US investment fund in the country after it failed to respect payment deadlines.
By Philippe Auclair and Paul Brown
Josimar has regularly reported on the financial problems encountered by 777 Partners' Belgian club Standard de Liège since the Miami-based investment fund took control of the club in the spring of 2022. The club, which is still heavily in debt despite 777's regular capital raises, lost over 20 million euros net in 2022-23 and has publicly admitted it has struggled to meet its commitments towards staff, business partners and suppliers. This earned the club two transfer bans by the Belgian regulator in June and December 2023, which were later lifted. Some of these suppliers have been waiting for six months and more for their due, whilst salaries and bonuses have regularly failed to be paid on time. Belgian daily Le Soir revealed on Monday that Standard’s players hadn’t received...
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