777 Partners had its control of Brazilian side Vasco da Gama provisionally removed by a judge in a Brazilian court
The American investment firm still seeking to acquire a controlling interest in Everton has criticised the decision of a court in Brazil to take control of one of the clubs they own away from them.
The decision of the courts preceded another legal twist at another club 777 owns as part of their multi-club portfolio, Belgian side Standard Liege, with the 777 having their football assets seized by a Liege court on Thursday over allegations of unpaid debts relating to the acquisition of the club. “Since the acquisition of 70% of Vasco SAF's shares, we have not failed to comply with a single contractual clause with CRVG , we have injected more than $310million into cash, an essential contribution to begin a project to rebuild the club. We formed a new Vasco, where the salaries of athletes and employees are paid on time, creditors are respected and debts are paid off, rare facts in Brazilian football.
“We deeply regret the bellicose and intransigent position of the new CRVG leaders, especially its president, who was never willing to discuss solutions for Vasco in the appropriate forum, the meetings of the SAF Board of Directors. “We reiterate our confidence in Justice and the laws of Brazil and we are absolutely certain that the absurd injunction will be overturned when 777 Partners is notified and can present its defense in the process.”
In March, the Premier League informed 777 Partners that they were “minded to approve” its bid to take over at Everton, provided four conditions were met.
777 Partners Farhad Moshiri Josh Wander
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