777 Partners has acquired full ownership of Belgian top-flight soccer club Standard Liège, marking yet another investment in soccer for the Miami-based investment firm.
The firm has purchased a controlling stake in Standard from club president and energy entrepreneur Bruno Venanzi for an undisclosed amount. Before the global pandemic, Standard generated between $49 million and $55 million in revenue per year, according to Bloomberg.
777 Partners has more than $3 billion in assets under management, with several high-profile investments in international soccer.
- It owns a 15% stake in La Liga’s Sevilla FC, which is valued at $436.5 million.
- The firm purchased Genoa C.F.C. — Italy’s oldest soccer team — for $175 million.
- It has agreed to acquire a 70% stake in Brazilian soccer club Vasco de Gama for $138 million.
Venanzi’s sale to 777 Partners marks a historic moment in soccer, as Standard is now the first Belgian team to be completely under foreign ownership and the 10th Belgian club with investors from outside the country.
Committed to Sports
Founded in 2015, 777 Partners has several sports-related investments outside of soccer clubs. In 2020, the firm invested $10 million in Fanatiz, a sports-focused OTT service, and acquired 1190 Sports, which manages sports media rights.
The firm owns a majority stake in the London Lions of the British Basketball League and is also an investor in ATA Football, a company devoted to elevating women’s soccer.