The Florida-based investment firm, 777 Partners has expanded its global soccer portfolio after acquiring Belgium’s Standard de Liége.
Following previous agreements with Serie A‘s Genoa and Brazil’s Vasco da Gama, the latest agreement will see 777 Partners acquire 100% of the club’s shares from the outgoing owner, Bruno Venanzi.
A binding term sheet has already been signed, and the closing is expected to take place within the next few weeks. A press conference is also planned for April, during which 777 Partners will go over its vision for Standard de Liége in greater detail.
Meanwhile, the club also stated that 777 Partners was drawn to the club’s national and international brand with the potential for upside growth, and historic tradition.
Standard de Liége competes in Belgium’s First Division A and has won the national championship ten times, most recently in 2009. The club is currently a mid-tier team as they are in the 13th position in the league standings.
The club said, “777 Partners is delighted to take up this new challenge in order to help our club continue its development and regain its former glory.”
The purchase price has not been disclosed, but the club has recently struggled financially, posting a $21.5 million (€19.7 million) loss during the 2020-21 season.
777 Partners also owns Sevilla FC in Spain, the streaming platform Fanatiz, the Chilean agency 1190 Sports, and the women’s soccer company Ata Football, among other assets. The firm, which was founded in 2015, has made one of the key components of its development strategy the identification of undervalued global soccer assets.