One of Brazil’s most storied soccer clubs just got a new owner.
Miami-based investment firm 777 Partners has agreed to acquire a 70% stake in Brazilian soccer club Vasco da Gama, both parties announced on Monday.
Jorge Salgado, president of Vasco da Gama, billed it as “the biggest deal in the history of Brazilian clubs” in a statement.
- 777 Partners will pay $138 million for the stake.
- The company will also take on debts.
- The team is now valued at $336 million.
The deal will “help Vasco regain its leading role in Brazilian and international football,” per Salgado. It will give the club an opportunity to “modernize” through data resources for talent acquisition as well as media and broadcasting technology.
There will be a confirmation period over the next 90 days before the deal is final.
Soccer Strategy
For 777 Partners, the move is just the latest in a foray into global soccer.
In September of 2021, the firm bought full ownership of Genoa C.F.C. for $175 million. It also has a significant stake in Sevilla FC.
Founded in 2015, the company has several other sports-industry brands in its portfolio, including the British Basketball League and ATA Football, a women’s soccer platform.
