Not the American-Canadian JKC Capital but the American 777 Partners is taking over Standard. Chairman Bruno Venanzi sells all his shares to the investment company.
The news hit the public and the fans of Standard on Friday evening. Not JKC Capital, a group where Standard chairman Bruno Venanzi would keep 25 percent of the shares and a blocking minority, but the American investment company 777 Partners takes over the stock number 16. “The signing of the transfer agreement (or signing) took place on Friday, the completion of the transfer (or closing) will normally follow within a few weeks,” Standard said in a statement.
‘777 Partners is looking forward to taking on this new challenge to help our club continue its development and return to its glory of yesteryear.’
Standard is therefore the first top club to end up in foreign hands. Unlike JKC Capital, 777 has experience with football clubs. It is a Miami-based investment firm that invests in six sectors: insurance, consumer and commercial finance, litigation financing, direct lending, sports, media & entertainment and aerospace.
“In addition to football, 777 Partners quickly built a world-class sports and entertainment portfolio, including the English Basketball League with the London Lions; Fanatiz, a streaming service that delivers live sports events in more than 90 countries around the world, 1190 Sports, which offers premium sports rights management and marketing, Atalanta Media, the premier distribution, engagement and community platform for women’s soccer, and Uplay, a Canadian basketball service platform.” , reports Standard.
Bruno Venanzi steps down. According to the press release, he would like to “thank all Standard de Liège sympathizers for their unconditional support during his 7-year presidency and he will continue to be our club’s n°1 supporter.”