Business as usual at Melbourne Victory despite bankruptcy of shareholder 777 Partners
Melbourne Victory isn’t concerned by the collapse of one of the A-League club’s shareholders.
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The collapse of an American private investment company that has a share of almost 20 per cent in Melbourne Victory has had “no effect” on the A-League club.
According to overseas reports, 777 Partners, whose ownership portfolio includes seven football clubs worldwide, was declared bankrupt on Monday, with creditors A-Cap now in control of the shares at each of the clubs.
While 777 Partners was either the sole or majority shareholder at five of the clubs – Genoa (Italy), Standard Liege (Belgium), Hertha Berlin (Germany), Red Star (France) and Vasco da Gama (Brazil) – its stake at the Victory was just 19.9 per cent.
As a result, it seems a case of business as usual at the Victory.
“777 is still a 19.9 per cent shareholder of Melbourne Victory,” a club spokesman said.
“As a minority shareholder, the latest on 777 has had no effect on Melbourne Victory and its operations.”
Don Dransfield, who quit his role as 777 Partners football operations boss in June this year, remains on the Victory board.
In October 2022, the Miami-based 777 Partners bought its minority share in the Victory for $8.7m, with the option of the company eventually taking a controlling stake of 70 per cent in the club.
“The 777 Partners deal will strengthen our capital base and will allow the club to supercharge its growth trajectory as well as ensure its longevity in Australia and football while retaining the Melbourne Victory brand, fabric and history,” then Victory chairman Anthony Di Pietro said.
Bonza Airlines, also owned by 777 Partners, subsequently became the Victory’s principal, front-of-shirt sponsor.
However, alarm bells were ringing when Bonza entered voluntary administration in May this year, with the Victory’s principal partner now being Turkish Airlines.
The Victory, who lost last month’s Australia Cup final 1-0 to Macarthur FC, will open the new A-League season on Friday week in Gosford against Central Coast in a rematch of last season’s grand final, won 3-1 by the Mariners.
Originally published as Business as usual at Melbourne Victory despite bankruptcy of shareholder 777 Partners
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