A-CAP has suspended the sale of Standard de Liège, a criminal investigation has opened at Genoa, and the future of all the clubs in the crumbling 777 Partners empire could soon be in the hands of US regulators.
Sevilla
The demise of 777 Partners is now threatening to affect thousands of insurance policyholders in the USA whose money ended up funding the company’s risky bets on debt-ridden, loss-making football clubs and failing budget airlines.
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How did A-CAP lose control over Genoa and who actually owns the club now? Romanian Dan Şucu’s takeover faces a legal challenge, but is he only a front to hide the real owners?
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Was buying football clubs just a way for 777 Partners to hide their true business – money laundering?
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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.
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As Josh Wander and 777 Partners continue to wait on Premier League approval for their proposed takeover of Everton, new legal papers filed in Florida reveal Russian oligarch Oleg Boyko is seeking a restraining order against them in a case referencing the club.
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Multiple club-owner 777 – a US private investors group – has a patchy record in honouring its financial commitments and is the subject of several court actions in the USA. So who are they, and where does the money come from?
