A Belgian court has ruled that all assets in the country belonging to American investment group 777 Partners can be seized, in response to claims of defaulting on a payment by former owner Bruno Venanzi and shareholders of Standard Liège. This decision adds to the legal and financial troubles facing the Miami-based investment company, which also saw its airline in Australia grounded and is facing a massive fraud lawsuit in New York. The court in Liege authorized the seizure of 777 Partners’s assets in Belgium, including accounts and shares of Standard Liège and Immobilière Standard de Liège, which owns the club’s stadium. The court has not provided further comments on the matter.
Immobilière Standard de Liège expressed hope that the seizure of assets will prompt a response from 777 Partners or its crisis manager to address their questions and requests, which have been previously ignored. If no response is received, further action will be taken to protect the interests of Standard Liège and ensure the continuity and stability of the club in the short, medium, and long term. The priority is to find a lasting solution for Standard Liège, and they are willing to work with the club’s management to achieve this goal. Fans of Standard have been protesting against 777 due to financial troubles, which have led to the club being under a temporary transfer embargo. Last week, protests escalated when fans blocked the team bus from reaching the stadium, resulting in the postponement of a league game.
In addition to Standard Liège, 777 Partners also owns other soccer clubs such as Genoa in Italy, Hertha Berlin in Germany, and Vasco da Gama in Brazil. The company’s attempt to buy English Premier League club Everton has faced delays and doubts, highlighting the challenges it is currently facing in the world of soccer. The company’s financial and legal turmoil has had implications on its various investments in the sport, raising concerns about the future of these clubs under 777 Partners’ ownership. The situation is evolving as legal proceedings continue, and stakeholders await responses from the embattled company.
The developments in Belgium come as another setback for 777 Partners, which is grappling with a series of challenges in different parts of the world. The seizure of assets in the country adds to the pressure on the company to address its financial obligations and legal issues, especially in the midst of ongoing legal battles and disputes. The impact of these events on the future of Standard Liège and other clubs owned by 777 Partners remains uncertain, as stakeholders closely monitor the situation for further developments. The court’s decision reflects the growing concerns and tensions surrounding the company’s operations in the soccer industry, highlighting the complexities and risks involved in owning and managing multiple clubs across different countries.
The ongoing dispute between former owners, shareholders, and 777 Partners underscores the complicated relationships and legal intricacies involved in the ownership and management of soccer clubs. The implications of these legal battles extend beyond financial concerns, affecting the stability and continuity of the clubs under 777 Partners’ ownership. The involvement of various stakeholders, including fans, investors, and regulators, adds layers of complexity to the situation, as each party seeks to protect their interests and ensure the welfare of the club. As the legal proceedings unfold, the future of Standard Liège and other clubs under 777 Partners’ ownership hangs in the balance, with the possibility of further developments and actions in the coming weeks and months. The stakes are high, and the outcome of these legal battles will have significant repercussions for the clubs and their supporters.
