777 Partners

[Kid in the Riot]

Back in the beginning of May I was told (by a regular poster on here, who can reveal themselves if they so wish!) that a mutual friend of ours had told them that 777 Partners were close to purchasing City. 

It made a lot of sense as it was fairly well-known that 777 Partners were a big global player in sports investment and were looking to buy an English club. I'd known that Mark Ashton had been seeking investment opportunities on our pre-season tour in Florida in the summer of 2019, and coincidentally 777 Partners were based in Miami, Fl. 

They also had a keen interest in UK basketball having purchased London Lions and owning nearly half the BBL league. Whilst they couldn't have bought the Flyers, it was feasible that the proposed basketball arena at the sporting quarter would have been of real interest to them for regional and national BBL events.

I did a bit of digging, asked a few people who would know, and drew blanks. Everyone said this rumour was not true. But then looking back, they were in positions where it's very likely they would deny the story, given commercial sensitivities.

Fast forward to today and 777 Partners are completing their takeover of Everton including the new Bramley-Moore Dock stadium. 

Having done some more digging since, including speaking to the original source, I am persuaded that 777 Partners were indeed the potential "overseas investors" that SL was referring to back on 30 April this year. Steve Lansdown provides update on the potential sale of Bristol City with talks ongoing - Bristol Live (bristolpost.co.uk)

Aside from the above circumstantial evidence, I believe that 777 Partners wanted to purchase City, Bristol Bears, and that they were also very keen on purchasing the sporting village. Indeed, the fact that planning wasn't yet delivered for the sporting village was cited as one reason why the purchase didn't go through. The source is absolutely someone that would have known who the potential investors were, and how negotiations ultimately ended. 

FWIW, having looked at 777 Partners portfolio, we may have had a lucky escape. They don't appear to have progressed any of the football clubs in their portfolio and both Genoa and Standard Liege supporters have protested against the ownership of their respective clubs. Only Sevilla have had success, but 777 only have a small approx. 7% minority stake in them.

They are also a multi-club ownership investment firm, who appear to be particularly interested in securing assets, hence their keen interest in the sporting quarter. They have already handed a big loan to Everton to assist in the completion of Bramley-Moore I believe. That's possibly something to be suspicious of, or maybe just good business acumen.

I don't have a direct source for the above however given who the original source is, I find it very hard to believe that, at the very least, there were no discussions between City and 777 Partners. It may be for others, including the local media, to now do a bit more digging and see if a deal was close to being completed, or not...

[BUTOR]

Be careful what you wish for: Exhibit A. 

[Mr Popodopolous]

Sevilla their success dunno how much can be attributed to 777. I read that half their squad was up for sale, last 15-20 years they've usually been quite a well run club so something has gine wrong there even if okay on the pitch.

Certainly not a given that they would pass the Owners and Directors Test either.

It's one thing to sell a club or a big enough stake to make it a relevant factor, it's another to pass the Regulatory hurdles.

Edited September 21, 2023 by Mr Popodopolous

[Davefevs]

22 minutes ago, BUTOR said:

Be careful what you wish for: Exhibit A. 

Indeed, but perhaps be just as careful about the bloke who is the one deciding who he’s gonna sell to!

[REDOXO]

28 minutes ago, Kid in the Riot said:

Back in the beginning of May I was told (by a regular poster on here, who can reveal themselves if they so wish!) that a mutual friend of ours had told them that 777 Partners were close to purchasing City. 

It made a lot of sense as it was fairly well-known that 777 Partners were a big global player in sports investment and were looking to buy an English club. I'd known that Mark Ashton had been seeking investment opportunities on our pre-season tour in Florida in the summer of 2019, and coincidentally 777 Partners were based in Miami, Fl. 

They also had a keen interest in UK basketball having purchased London Lions and owning nearly half the BBL league. Whilst they couldn't have bought the Flyers, it was feasible that the proposed basketball arena at the sporting quarter would have been of real interest to them for regional and national BBL events.

I did a bit of digging, asked a few people who would know, and drew blanks. Everyone said this rumour was not true. But then looking back, they were in positions where it's very likely they would deny the story, given commercial sensitivities.

Fast forward to today and 777 Partners are completing their takeover of Everton including the new Bramley-Moore Dock stadium. 

Having done some more digging since, including speaking to the original source, I am persuaded that 777 Partners were indeed the potential "overseas investors" that SL was referring to back on 30 April this year. Steve Lansdown provides update on the potential sale of Bristol City with talks ongoing - Bristol Live (bristolpost.co.uk)

Aside from the above circumstantial evidence, I believe that 777 Partners wanted to purchase City, Bristol Bears, and that they were also very keen on purchasing the sporting village. Indeed, the fact that planning wasn't yet delivered for the sporting village was cited as one reason why the purchase didn't go through. The source is absolutely someone that would have known who the potential investors were, and how negotiations ultimately ended. 

FWIW, having looked at 777 Partners portfolio, we may have had a lucky escape. They don't appear to have progressed any of the football clubs in their portfolio and both Genoa and Standard Liege supporters have protested against the ownership of their respective clubs. Only Sevilla have had success, but 777 only have a small approx. 7% minority stake in them.

They are also a multi-club ownership investment firm, who appear to be particularly interested in securing assets, hence their keen interest in the sporting quarter. They have already handed a big loan to Everton to assist in the completion of Bramley-Moore I believe. That's possibly something to be suspicious of, or maybe just good business acumen.

I don't have a direct source for the above however given who the original source is, I find it very hard to believe that, at the very least, there were no discussions between City and 777 Partners. It may be for others, including the local media, to now do a bit more digging and see if a deal was close to being completed, or not...

You kiss a lot of frogs!

[chinapig]

Kieran Maguire called them 999 on today's PoF podcast today.

He spoke to someone senior at the Premier League who reckoned their takeover would not be approved if only to show there is no need for an independent regulator. We'll see.

[marmite]

8 minutes ago, Davefevs said:

Indeed, but perhaps be just as careful about the bloke who is the one deciding who he’s gonna sell to!

Exactly this. Look at Higgs at the gas, and plenty of other owners. Just wanted their money back.....allegedly. If Steve wants his money back, will he really care who buys us?

[exAtyeoMax]

10 minutes ago, chinapig said:

Kieran Maguire called them 999 on today's PoF podcast today.

He spoke to someone senior at the Premier League who reckoned their takeover would not be approved if only to show there is no need for an independent regulator. We'll see.

I haven't listened to that episode yet but he was very cautious/sceptical when discussing Everton the other week

[BrizzleRed]

29 minutes ago, Davefevs said:

Indeed, but perhaps be just as careful about the bloke who is the one deciding who he’s gonna sell to!

This will be a real test of SL.  He has always given a vibe that he wouldn’t ever put the club in danger, so we’ll see.

To be fair to SL, it could be the deal didn’t happen because he wasn’t comfortable with it.  

Maybe we’ll find out one day

[phantom]

Just to add to the OP, this name was mentioned very early in discussions and was told they moved on from us a long time ago, I have been told that there IS another group that have been around for a number of months and are still doing ground work but definitely not this same group

[Davefevs]

21 minutes ago, BrizzleRed said:

He has always given a vibe that he wouldn’t ever put the club in danger, so we’ll see.

Not just a vibe, he actually said it too.

[Port Said Red]

8 minutes ago, phantom said:

Just to add to the OP, this name was mentioned very early in discussions and was told they moved on from us a long time ago, I have been told that there IS another group that have been around for a number of months and are still doing ground work but definitely not this same group

I find that more encouraging. I must admit I hadn't realised that the Everton deal was on the cards and I have just read up on it. I don't get the impression that 777 have done much other than "ooh premier league, ooh new stadium".

If this other group have been working behind the scenes for months, that suggests a level of due diligence that our own FA could learn from. It doesn't sound like a fly by night or quick buck organisation.

[BrizzleRed]

4 minutes ago, Davefevs said:

Not just a vibe, he actually said it too.

Though he had Dave, but I wasn’t sure.  This will definitely show if he’s as good as his word.  

I certainly don’t like the sound of that 777 mob, that’s for sure!  

[Bristol Oil Services]

1 hour ago, BUTOR said:

Be careful what you wish for: Exhibit A. 

Steve is 71. What we wish for cannot change that, or reverse the clock. Steve moving on is inevitable. There is nothing we can do about it. We might as well crack on with it, because it is going to happen one day anyway ...

[devoncider]

if we were taken over by 777 it would be bittersweet hearing us get mentioned on the mainstream podcasts, but for all the wrong reasons. The moral compass himself, Philipe Auclair would have a field day!

let's hope whoever the next investor/owner is, it is more down the Brentford/Brighton route than the Newcastle/Everton route... both on and off the pitch!

[Mr Popodopolous]

Few thoughts or queries perhaps on regulation and how it may or may not impact any prospective takeover. @Kid in the Riot seems closer to the process than many so his views would be interesting.

1) In your view from what you hear, would a prospective new owner/large investor be able to adequately demonstrate compliance with proof, source and sufficiency of funding. In the case of the Leeds takeover it took some time.

2) In your view would they be able and willing to abide by the regulations that they need to abide by- there are a few.

3) Would they be willing to accept the new catchall to some extent clause pertaining to the league having such monitoring powers as they see fit to ensure compliance with League regulations. That is de facto a takeover based condition.

4) If somehow SL picked a poor one, one that failed or couldn't live to the Regulatory requirements and the takeover couldn't go through as far as the League were concerned how would this impact our solvency etc. Would he be willing to continue fillng gaps, running it while looking.

He could find a buyer tomorrow but that's only the start tbh. There are varied pitfalls in the process.

44 minutes ago, devoncider said:

if we were taken over by 777 it would be bittersweet hearing us get mentioned on the mainstream podcasts, but for all the wrong reasons. The moral compass himself, Philipe Auclair would have a field day!

let's hope whoever the next investor/owner is, it is more down the Brentford/Brighton route than the Newcastle/Everton route... both on and off the pitch!

It perhaps wouldn't be approved anyway, so where it would leave us who knows.

Edited September 21, 2023 by Mr Popodopolous

[Sleepy1968]

Christ Almighty.

Would be happier to be owned by one of the oil States.

In either case I'd be saving £800 a season.

Will be interesting to see whether SL pulled the plug on this.

[Harry R]

Glad this didn't happen...

https://josimarfootball.com/2023/07/03/the-777-football-mystery/

[Sorry - just realised it's behind a paywall. Must have been above it when I read it previously]

Edited September 21, 2023 by Harry R

[Mr Popodopolous]

8 minutes ago, Harry R said:

Glad this didn't happen...

https://josimarfootball.com/2023/07/03/the-777-football-mystery/

[Sorry - just realised it's behind a paywall. Must have been above it when I read it previously]

Would the League have approved it?

Jury out IMO.

Edited September 21, 2023 by Mr Popodopolous

[Red Army 75]

Be careful what you wish for shout is a bit redundant . Steve Lansdown is selling the football club, we have know input into his decision. Looking forward to when he sales the club 

[Mr Popodopolous]

For those who want to go to sleep early educate themselves about the evolving Football takeover Regulatory environment, the following parts of the EFL regs are pertinent.

https://www.efl.com/governance/regulations#heading-appendix-3-owners-and-directors-test

It's genuinely quite long these days!

Edited September 21, 2023 by Mr Popodopolous

[Mr Popodopolous]

Some of these will be fairly obvious but some of them I dunno. Since Autumn 2020 it's tightened a lot.

I'll try and condense it into a few paragraphs but..

Edited September 21, 2023 by Mr Popodopolous

[Sir Geoff]

No way will their takeover of Everton be approved imo.

[Mr Popodopolous]

Read these at your leisure. Zoom in where needed.

All very well saying sell up but not an easy or quick process. Took several months for Huddersfield and Hull iirc. Leeds and the 49ers seemed to drag.

Edited September 21, 2023 by Mr Popodopolous

[W-S-M Seagull]

3 hours ago, phantom said:

Just to add to the OP, this name was mentioned very early in discussions and was told they moved on from us a long time ago, I have been told that there IS another group that have been around for a number of months and are still doing ground work but definitely not this same group

So I guess the question is, is this linked to SL cutting back on his funding? And the departure of PA and not replacing him? 

[BUTOR]

5 hours ago, Davefevs said:

Indeed, but perhaps be just as careful about the bloke who is the one deciding who he’s gonna sell to!

It’s certainly food for thought.

[Rocking Red Cyril]

33 minutes ago, W-S-M Seagull said:

So I guess the question is, is this linked to SL cutting back on his funding? And the departure of PA and not replacing him? 

And none of Scott's 25 mill invested in the team?

[Harry]

7 hours ago, Kid in the Riot said:

Back in the beginning of May I was told (by a regular poster on here, who can reveal themselves if they so wish!) that a mutual friend of ours had told them that 777 Partners were close to purchasing City. 

Thanks for the WhatsApp mate. Yes, I shall now reveal myself

Yep, early May I was told we were (or had been) in discussions with 777. 
However, I later learned that whilst there was some discussion with them, they weren’t interested in ‘lock stock & barrel’ and were maybe only offering a minority stake (much like they’ve done with some of their other clubs). 
I understand that we moved on pretty quickly and SL didn’t think they were the right partner. Which I think was the right call. 
There are (and have been for a while) other potential suitors - but again, we have a complex structure and it’s hard to complete a sale of a football club even if it’s a straightforward one - and ours certainly isn’t a straightforward one! 
But it’s definitely an ongoing situation…… 

[Mr Popodopolous]

52 minutes ago, Harry said:

Thanks for the WhatsApp mate. Yes, I shall now reveal myself

Yep, early May I was told we were (or had been) in discussions with 777. 
However, I later learned that whilst there was some discussion with them, they weren’t interested in ‘lock stock & barrel’ and were maybe only offering a minority stake (much like they’ve done with some of their other clubs). 
I understand that we moved on pretty quickly and SL didn’t think they were the right partner. Which I think was the right call. 
There are (and have been for a while) other potential suitors - but again, we have a complex structure and it’s hard to complete a sale of a football club even if it’s a straightforward one - and ours certainly isn’t a straightforward one! 
But it’s definitely an ongoing situation…… 

Anything over 30 pct would be subject to Owners and Directors Test of course. 777 and that.hmm.

Got it wrong, 25 pct is the new magic number.

Edited September 21, 2023 by Mr Popodopolous

[Lrrr]

2 hours ago, Harry said:

Thanks for the WhatsApp mate. Yes, I shall now reveal myself