777 Partners LLC plans to tap growing investor appetite for football to potentially raise more than €200 million ($220 million) for its portfolio of clubs, people with knowledge of the matter said.
The Miami-based investment firm has hired sports specialists Tifosy Capital & Advisory to help raise new equity for its football platform, according to the people, asking not to be identified discussing confidential information. Any money will be used to support 777’s investment needs, they said.
Led by managing partners Steven Pasko and Josh Wander, 777 is one of football’s biggest multiclub owners, with stakes in teams ranging from Vasco da Gama in Brazil to Italy’s Genoa Cricket and Football Club. 777, which has recently been eyeing a stake in English Premier League team Everton FC, is expecting revenue of about €350 million for its fiscal 2022/23, the people said.
Deliberations are ongoing and no final decisions on the size, structure or timing of any fundraising have been taken, the people said. Representatives for 777 and Tifosy declined to comment.
Multiclub proponents point to cost synergies from data and player sharing and the potential to strike more lucrative sponsorship deals. But a rising chorus of critics say the model stifles competition and creates feeder teams with no real prospect of success. 777 itself faced heavy opposition from supporters of Red Star FC ahead of its 2022 takeover of the Paris-based club.
For now, investors seem eager to embrace the ownership style as they seek exposure to the world’s most popular sport. US firms ranging from RedBird Capital Partners LLC to Eagle Football Holdings LLC have been buying up stakes in clubs across Europe in recent years — changing the ownership landscape of a game once dominated by local businessmen.
777 has already experienced the highs and lows of football in its short time as a club owner. Genoa was relegated from Italy’s Serie A in 2022 before returning to the top league a year later, while early successes with Vasco da Gama have given way to a string of poor performances in Brazil. Its stable of clubs also includes Germany’s Hertha BSC, Standard Liège of Belgium, Spain’s Sevilla FC and Melbourne Victory FC in Australia.
London-based Tifosy previously advised Oaktree Capital Management on its investment in Italian football giants Inter Milan and is currently working with the owners of KAA Gent on a sale of the Belgian club.
Author: Irene García Pérez and David Hellier