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PE firm behind Bonza, Melbourne Victory calls in insolvency experts

Ayesha de Kretser
Ayesha de KretserSenior reporter
Updated

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The private equity backers of Bonza and the Melbourne Victory A-League team have called in a restructuring firm to provide advice on “operational challenges” at the same time as its co-founders have been forced out.

Miami’s 777 Partners had grown rapidly, buying stakes in European soccer teams and in airlines including Bonza, which called in administrators late last month, and Flair, a budget carrier based in Canada.

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correction

A previous version of this story incorrectly stated Mr Pasko, Mr Wander and Mr Weiss were asked to leave, or were leaving, the private equity firm. A spokesman for 777 Partners said this was untrue.

Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au

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    Original URL: https://www.afr.com/companies/transport/bonza-melbourne-victory-private-equity-backer-on-the-brink-20240511-p5jcrg