🔴 Infos #RSCL : 🇺🇸 Alors qu’aucune consigne liée à une communication publique et officielle aux supporters n’est (encore) confirmée, la situation du club en interne reste tendue où certains dirigeants peinent à joindre les responsables américains de 777 Partners. 💰 Les… pic.twitter.com/9qwlo7LyBx— Sacha Tavolieri (@sachatavolieri) May 8, 2024 No money to pay the April wages at Standard. What a mess. Very good summary of the mess. Use Google Translate. "They do cross-financing. By joining clubs with debts, they want to sell other parts of their business (such as life insurance) to the football fans of those clubs. In this way, they would generate additional income and cash flow to finance the debts they have incurred. However, that model does not appear to work.777 is having great difficulty repaying the debts incurred. The little cash flow is immediately used to fill the holes, but the business is not sustainable."
Will Ferrell Reportedly Buys Minority Stake in Leeds United https://www.si.com/soccer/2024/05/06/will-ferrell-reportedly-buys-minority-stake-in-leeds-united
nice story about promotion: https://theathletic.com/5463215/2024/05/04/ipswich-promoted-premier-league-2/
The situation at Standard has become a little clearer. They are now facing their 3rd transfer ban of the season due to lack of payment of salaries. The manager - "We were told in a meeting that the board does not know when we will receive our salaries," Leko told Het Belang van Limburg.
One more update from Belgium, but not about Standard. Patro Eisden had a strong season in the Challenger League. The Common Group owned team did not submit any documents to receive their professional license for the 2024-2025 season. As the Common Group also owns Vitesse who has had a terrible season, people thought it was simply the same thing. In fact, Coley Parry is quite liked by the club, unlike at Vitesse. They are going to submit the documents and hope to get their license on the seco Vitesse might gain another investor are "in talks with an investment company from Bahrain to save the club. That party has ties with funds in the United States."
Alarms should be going off at all of the 777 clubs, after an internal memo was leaked to Financial Times announcing that 777 had, "retained a team of professionals from B Riley Advisory Services to assist with managing through various operational challenges." B Riley Advisory are a firm that specialize in restructuring / turning around investment firms that are struggling... they also get hired to do litigation work and forensic accounting. The memo further announced that part of the deal with B Riley involves creating a temporary COO position to be filled by one of B Riley's managing directors, and that other big-wigs at B Riley are taking on “governance roles” at 777. The Athletic was also given this memo and added the following reporting: Emphasis mine, because I think this is the first time we've heard that 777 are looking to offload their entire portfolio of clubs? On the Everton front, The Athletic says that MSP Sports Capital have called in the $100m+ loan they gave Moshiri last year to keep the club above water: So now there's a chance that MSP Capital swoops in, and Everton winds up with a different US-based owner.
Looks like Standard will be sold. But I imagine this will be the first of many. That being said, the CEO came out and stated that people are being paid. Potential buyers are already being sought.
If Standard are not sold, they will keep their professional license, but most likely start the season with negative points.
Richard Masters (CEO of the Premier League) just said that the PL are unable to reject the deal to purchase Everton. But he means they literally can't "reject" it... instead, they've been very clear about what is required by 777 Partners in order for the PL to accept the bid and that, "At the moment, because the takeover has not been confirmed, I’ll leave it to the committee [of MPs] to make its own conclusions as to where we are with that." He's basically saying that the PL can't say "no" but that 777 aren't gonna meet the conditions set by the PL to complete the purchase. Womp womp...
The Premier League's rules have to comply with competition and commercial laws. Every time something like this happens makes me more grateful for the single-entity in MLS. In a society where disputes are settled in very expensive court cases I don't think MLS could have survived the last 3 decades without it.
Article about Jeff Luhnow, owner of Leganes and the new club in Cancun. https://www.espn.com/soccer/story/_/id/40136338/how-ex-mlb-exec-leganes-laliga-push-cancun-title
One idea they are considering for FC Cancun…having a zipline bring tequila to fans. That sounds more like an idea from a TV show than real life.
Update from Oostende - there is a good chance that they do not get a license and will declare bankruptcy. Update from Standard - CEO has left the club. I think we should know really soon about Standard and all of the 777 Groups clubs future.
https://www.nytimes.com/athletic/54...standard-vasco-genoa-hertha-red-star-victory/ Most of this isn't new to posters who have been following this thread, but something massive jumped out: 777 owns a 64% stake in Hertha Berlin??? They don't "control" the club, as they had to give away voting rights to supporters to come into compliance with 50+1, but they're still in financial control. The report says that fans of their opponents have protested 777 in recent months, but that the club has mostly been stable since they purchased their stake in March of 2023.
Firefox will translate entire pages after they load. I've had mixed results, but it's more convenient than taking the URL to google translate or a rival product. Basically, they're unable to pay off enough of the club's debt to meet the requirement set by Belgian FA to receive their professional license for next season. As such, without intervention from the FA or a miracle buyout, they will enter administration on June 3rd and start next season in the second division of the provincial amateur league (which I believe is on the 7th tier of the pyramid).
After yesterday's reporting, we unfortunately have to confirm that no miracle solution has been found to achieve a takeover. This means that KVO will not be able to submit a full license file to the C-Sar tomorrow. Werner Van Oosterwyck : “Without a license we will drop to the second Amateur class, but we cannot pay off the large debt burden there. In my capacity as temporary administrator, I will therefore have no choice but to file for bankruptcy of KV Oostende on June 3. I realize that this is a heavy blow for an entire community: fans, (youth) players, trainers, sponsors, employees, volunteers, ... I am certainly also thinking of the fantastic team of employees who kept the club running in difficult circumstances last season. and are now losing their jobs. This is a dark day in my career as an administrator. I at least hope that KVO can make a fresh start somehow. A city like Ostend cannot be at a high level without a football club.”
Sorry, I thought that I had linked it translated. The team played well enough to avoid relegation and get a little interest, but to no avail. On the flip side, they will have the nicest stadium by far in the 7rh Division. Belgium has had this happen in the oast, and often Oostende will merge with a local club higher up the pyramid. Who knows if that will happen here.
Campobasso has been promoted to Serie C: https://worldsoccertalk.com/news/us-owned-italian-side-campobasso-promoted-to-serie-c/
Big Update. Italics - Promoted Australia Melbourne Victory - 777 Group Belgium - Juipler Pro League Club Bruges - Orkila Capital (Minority Ownership) - Still could win the league. Royal Charleroi Sporting Club - David Helmer and Catalytik Group (Minority ownership, but three, of which Helmer is one, now own 95% of the club) - avoided relegation. Standard de Liege - 777 Group - avoided relegation, but a whole lot of other issues. Belgium - Challenger Pro League Beveren - David Blitzer - in playoffs for promotion, but missed out. Molenbeek - John Textor - Relegated to Challenger League for 2024-2025 season Patro Eisden- Common Group (Coley Parry) - license application was rejected, earned on their 2nd chance. They will remain in the Challenge League after their 6th place finish. RFC Liège - David Kirsch - Finished a surprising 7th place. Belgium - Other Leagues Oostende - Pacific Media Group - Avoided relegation and finisehd in 13th place. But they declared bankruptcy and did not receive a license. They will reemerge in the 2nd Regional Amateur League (7th Division) Brazil Botofogo - John Textor - "controlling interest" - Currently sit in 4th place early in the season. Vasco da Gama - 777 Group - Currently sit in 13th place early in the season. Denmark - Superliga Sønderjysk Elitesport - Robert Platek (MSD Capital) - Finished 1st in 1st Division and promoted to Superliga. Denmark - 1st Division AC Horsens - Binnie Family - Finished in 7th place. Esbjerg - Pacific Media Group - Finished in 1st place, promoted to 1st Division. Denmark - 2nd Division FC Helsingor - Jordan Gardner/Brett Johnson - Finished in 12th place and relegated to 2nd Division. England - Premier League Arsenal - Stan Kroenke - Finished in 2nd place Aston Villa - Wesley Edens - Finished in 4th place Bournemouth - Bill Foley - Finished in 12th place Chelsea - Todd Boehly - Finished in 6th place Crystal Palace - Josh Harris/David Blitzer/John Textor - Finished in 10th place Fulham - Shahid Khan - Finished in 13th place Everton - 777 Group (94.1%) - Finished in 15th place.- purchase not complete Ipswich Town - Mike O’Leary/Gamechanger 20 - Finished in 2nd place and promoted to Premiership. Liverpool - John Henry/Tom Werner/LeBron James - Finished in 3rd place Manchester United - Glazer Family - Finished in 8th place West Ham - Albert "Tripp" Smith (8%) - Finished in 9th place MSD Capital has loaned money to West Ham, Burnley, Derby County, Southampton and Sunderland England - Championship Burnley - Alan Pace/ALK Capital/Watt Family - Finished in 19th place and relegated to the Championship. Leeds United - 49ers Enterprises (Denise DeBartolo York, Jed York and John York) - Finished in 3rd and lost final match to Southampton to not be promoted. Millwall - John Berylson/Richard Smith - Finished in 13th place. Norwich City - Mark Attanasio 18%-33% - Finished in 6th place, but did not win promotion. Plymouth Argyle - Simon Hallett - Finished in 21st place. Portsmouth - Michael Eisner - Won League One and promotion to Championship. Swansea City - Stephen Kaplan/Jason Levien - Finished in 14th place West Bromwich Albion - Shilen Patel and Dr Kiran C. Patel 87.8% ownership. - Finished in 5th place. England - League One Barnsley - Chien Lee/Paul Conway/Billy Beane - (Conway = Pacific Media Group) - Finished in 6th and lost to Bolton in the playoffs. Leyton Orient - Common Group (Coley Parry) - Finished in 11th place. Wycombe Wanderers - Rob Couhig - Finished in 10th place. Wrexham - Ryan Reynolds and Rob McElhenney (RRMcReynolds Company) - Finished in 2nd place and earned promotion to League One. England - League Two Gillingham - Brad & Shannon Galison - Finished in 12th place. England - National League Rochdale - World Soccer Holdings - Finished in 11th place. France - Ligue 1 Olympique Lyonniase - John Textor - "controlling interest" - Finished in 6th place. Marseille - Frank McCourt - Finished in 8th place. Toulouse - Red Bird Capital - Finished in 11th place. France - Ligue 2 Lorient - Bill Foley - "significant minority" - Finished in 17th place and relegated to Ligue 2. Red Star - 777 Group - Won league and promotion to Ligue 2. France - National Nancy - Pacific Media Group - Finished in 6th place. Germany - Bundesliga FC Augsburg - David Blitzer - Finished in 11th place. Germany - 2 Bundesliga FC Kaiserlautern - Pacific Media Group (10%) - Finished in 13th place. Germany - Regionalliga MSV Duisburg - Capelli Sport (40%) - Relegated to Regionalliga. Greece - Super League Athens Kallithea F.C - Andrew Barroway - Finished 1st is South Division and promoted to Super League. Panetolikos - KAM Sports LLC - Finished 4th. Ireland Dundalk FC - Brian Ainscough - Currently sits in 10th place. This is last place. Italy - Serie A AC Milan - Red Bird Capital - Finished in 2nd place. Atalanta - Stephen Pagliuca - Finished in 5th place. Bologna - Shilen Patel - minority owner - Finished in 3rd place. Fiorentina - Rocco Commisso - Finished in 8th place Genoa - 777 Partners (Steven W. Pasko and Josh Wander) - Finished in 11th place Inter Milan - Oaktree Capital - Won league. Parma - Kyle Krause - Wins Serie B and promoted to Serie A. Roma - Dan Friedkin - Finished in 6th place. Italy - Serie B Spezia - Robert Platek - not MSD Capital, but family owned - Finished in 15th place Venezia - Duncan Niederauer - Finished in 3rd, could still win promotion. Italy - Serie C Ascoli - Matt Rizzetta/North Six Group - Relegated to Serie C Campobasso - Matt Rizzetta/North Sixth Group - Won Serie D - Group C and Promoted to Serie C. Mexico Necaxa - NX Football USA (Ryan Reynolds, Rob McElhenney, Eva Longoria, Kate Upton and Justin Verlander amongst others) - Finished in 9th place. Cancún FC - Jeff Luhnow - Finished in 6th in the Liga de Expansion, but earned promotion to Liga MX. Netherlands - Eerste Divisie ADO Den Haag - David Blitzer - Finished in 5th place. Could still earn promotion. Den Bosch - Pacific Media Group - Finished in 19th place. MVV Maastricht - World Soccer Holdings LLC - Finished in 9th place. Vitesse Arnhem - Common Group (Coley Parry) - Finished in last place and relegated to Eerste Divisie. Poland - 1 Liga GKS Tychy - Chien Lee - Pacific Media Group - Finished in 7th place. Portugal - Primeira Liga Casa Pia - Robert Platek (MSD Capital) - Finished in 9th place. Spain - La Liga - Spain Athletico Madrid - Ares Management - Finished in 4th place Mallorca - Andy Kohlberg/Steve Nash/Stu Holden/Kyle Martino/Steve Kerr - Finished in 17th place. Sevilla - Josh Wander (15%) - 777 Group (Minority Interest) - Finished in 13th place. Switzerland - Super League Grasshopper Club Zurich - Los Angeles Football Club - Finished in 11th place, will play in a relegation playoff to determine if they stay in the Super League. FC Lugano - Joe Mansueto, - Will finish in 2nd place. Yverdon-Sport - Jamie Welch - Could finish anywhere from 8th to 10th. Switzerland - Challenge League FC Thun - Chien Lee - Pacific Media Group - Finished in 2nd place, will play GCZ to determine who will be in the Super League next season. Champions of their leagues - 4 with a possible 5th if Club Brugge wins. Promoted to higher division - 9 promotions with a possible 10th if Thun wins over GCZ. Relegated to a lower division - 6 relegations with a possible 7th if GCZ loses to Thun.
Pacific Media Group never owned Barnsley. Lee and Conway were "front men" for other investors, which is banned under EFL regulations. Lee and Conway were thrown off the board in 2022. Both have been charged with breaching EFL regulations, as has the club. Lee still owns 9.2% and PMG 3.91%. Otherwise PMG's investments in European football are going swimmingly. Takeover date and now: 2019 FC Thun, Swiss Super League (D1) 2024 6/10 in the Challenge League (D2) 2020 KV Oostende, Belgian Pro (D1) 2024 Probably defunct. 2021 AS Nancy-Lorraine Ligue 2 (D2) (traditionally a L1, L2 yoyo team) 2024 6th in the National League (D3) 2021 FC Den Bosch, Eerste Divisie (D2) 2024 19/20 in in Eerste Divisie (not relegated)