777 Partners has lost control of its football operations, whose CEO Don Dransfield has quit. And attempts to sell its portfolio of clubs by Kenneth King of A-CAP are under threat from an injunction granted this week by a US Court.
By Philippe Auclair and Paul Brown
'I have been informed by A-CAP that 777 no longer exercises control over any of its football clubs... We saved Vasco from possible bankruptcy'.
If confirmation was needed of what Josimar wrote at the end of May about 777 Partners losing control of their multi-club portfolio to A-CAP, the firm's biggest creditor, then Vasco da Gama's president Pedrinho delivered it a few days ago on the Brazilian club's own TV channel. The former star of the carioca club revealed how he'd had a "very cordial meeting" with representatives of A-CAP in order to find "a new investor", now that 777 Partners were out of the picture.
Finding new investment in football would normally be a job for Don Dransfield, the former Chief Strategy Officer of City Football Group, who was appointed CEO of 777’s Football Operations to much fanfare in May 2022. Dransfield told Bloomberg that "This is an ambitious project with a clear sense of direction and purpose."
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