Lyndon Lloyd 10/05/2024 4comments  |  Jump to last

Standard Liege's fixture against Westerlo had to be postponed this evening after protestors prevented the team coach from getting to the stadium.

Standard supporters are angry at the running of the club by majority owner 777 Partners which has resulted in a third transfer ban for the one-time Belgian giants after they failed to meet agreed payments.

There are reports in Belgium this evening that Standard's former owner, Bruno Venanzi, is working on building a consortium with other investors to repurchase the club, having begun legal proceedings to have 777's Belgian assets seized as he seeks millions of Euros the Florida firm still owe him and shareholders in Stade Maurice Dufrasne.

Meanwhile, Josimar are reporting that 777 Partners co-founders Josh Wander and Steve Pasko have been removed from the board of 777 Football Group that steers their ownership of the company's stable of global football clubs and which was trying to acquire Everton.

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According to the BBC, Ian Ratner and Ron Glass of B. Riley Advisory Services, whose expertise are in bankruptcy advice and litigation, have been brought in “to take on governance roles within [the] organisation” and help with "various operational challenges" according to the reports.

That could signal that 777 themselves are at risk of going into administration as they fight a number of court cases in the US and grapple with the fallout of the collapse of their budget Australian airline, Bonza.

At the same time, Everton news source The Bobble has tweeted that Farhad Moshiri has officially informed Wander and company of his decision to seek other investors for Everton as he continues to find a buyer willing and able to purchase his 94.1% stake in the Club.

 

Reader Comments (4)

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James Flynn
1 Posted 11/05/2024 at 02:59:46
They probably are looking at bigger problems than trying to buy Everton.
James Flynn
2 Posted 11/05/2024 at 03:06:55
The Athletic:

Prospective Everton owner 777 calls in restructuring firm leaving takeover bid in jeopardy

"777 Partners' eight-month attempt to buy Everton appears to be effectively over after the Miami-based investment firm called in restructuring experts in an attempt to save the crisis-hit business.

In a memo sent on Thursday evening, staff were told that 'a team of professionals from B Riley Advisory Services' had been retained to help 777 get through 'various operational challenges'.

They include 17 different lawsuits filed against the firm for unpaid debts, accusations of fraud and the financial collapse of 777's Australian airline Bonza.

The memo, which The Athletic has seen, explains that Mark Shapiro, a senior managing director at B Riley Advisory Services, is now 777's interim chief operating officer, with two of Shapiro's colleagues joining him in “governance roles”.

Jerome Shields
3 Posted 11/05/2024 at 08:55:33
Standard Liege are just further down the road with 777Partners than Everton are.The reason being that Evertonians over years have been the catalyst for scrutiny for Everton like no other Club.777 partners found themselves under intensive scrutiny and pressure that they never experienced before.So much so that it has exposed their whole operation both onshore and offshore and caused Financial Regulatory bodies to act worldwide.

Moshiri and his connections are bound to be concerned regarding such intense scrutiny, because it could expose them and lead to further investigations.

The Standard Liege Fans have my sympathy.It is a nightmare as we all know too well.

Jerome Shields
4 Posted 11/05/2024 at 08:55:39
Standard Liege are just further down the road with 777Partners than Everton are.The reason being that Evertonians over years have been the catalyst for scrutiny for Everton like no other Club.777 partners found themselves under intensive scrutiny and pressure that they never experienced before.So much so that it has exposed their whole operation both onshore and offshore and caused Financial Regulatory bodies to act worldwide.

Moshiri and his connections are bound to be concerned regarding such intense scrutiny, because it could expose them and lead to further investigations.

The Standard Liege Fans have my sympathy.It is a nightmare as we all know too well.

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