It seems as if any team will do for 777 Partners as they pursue an acquisition but I believe this is the wrong kind of West Ham takeover.
It’s reported the Miami based investment firm have £600M to spend on a club so The Hammers are in their crosshairs. Well, not just West Ham to be precise. It’s believed that 777 Partners want to buy a Premier League with The Irons and Sheffield United the front runners.
The US capital marketing company were close to tying up a deal for Everton recently. Toffees owner Farhad Moshiri pulled the plug on the takeover and chose to enter into an agreement with a rival firm.
The snub has prompted the firm to look at other Premier League clubs to add to their portfolio. They already own shares in numerous other football clubs including Genoa, Standard Liege, Sevilla & Malborne Victory.
Founded in 2015, 777 focuses on several industries: insurance, aviation, sports, media, tech, litigation finance, private credit. The firm boasts assets of over $12 billion.
West Ham takeover or any old takeover?
Whilst I’d personally encourage the right takeover of West Ham, this doesn’t feel like it.
I’m completely aware that benevolent ownership is thin on the ground, and not every club can spend like Manchester City. However I’d prefer a Brighton/Brentford slow-build ownership model that a US franchise type acquisition.
The scattergun approach has the feel of a firm wanting to purchase, not just a club, but any old football club. There are practically no similarities between Everton, West Ham and Sheffield United so what’s special about us?
777 Partners may wish to add a Premier League club to their portfolio but do they know about West Ham? Our club requires a very clear takeover strategy because of the situation with the rented stadium.
I hate the term ‘adding to a portfolio’ too, it sounds crass, clinical and very un-football like. Of course I’m aware the owner Daniel Kretinsky has a number of investments but I’m not convinced by him either.
It just appears that football clubs have become a business acquisition for many of these firms and funds. The fact that 777 have moved so quickly from Everton to someone else tells me everything.
It’s not so much a desire to run our special club but an acquisition of assets and I hate it. So whilst I’d encourage the right takeover and ownership, I think I’d give this lot a swerve.
They won’t mind of course, 777 Partners will probably just move onto another club and hoover it up.