The $2 billion debt of a global sports and airline empire

Countries & Cities · Published 15 October 2026 Swipe more like this →

In short: From Italian soccer to Australian airlines, 777 Partners built a sprawling portfolio of high-profile assets. But behind the glamour of multi-club ownership lies a complex web of seized aircraft, revoked licenses, and a looming bankruptcy filing to settle a massive debt mountain.

Founded in 2015 and based in Miami, 777 Partners rapidly expanded into a multi-industry powerhouse. The firm's strategy involved acquiring significant stakes in diverse assets, including soccer clubs like Genoa CFC (Italy), Standard Liège (Belgium), Red Star FC (France), and CR Vasco da Gama (Brazil). They also moved into aviation with Flair Airlines and the British Basketball League, even investing in the global film studio STX Entertainment.

The expansion, however, has been marred by significant financial and legal friction. By 2024, the firm faced a cascade of crises: aircraft were seized in Canada over payment disputes, the Australian airline Bonza entered voluntary administration, and the British Basketball League's operating company had its license revoked. In the UK, the firm entered bankruptcy proceedings in October 2024, eventually filing for Chapter 11 in August 2026 to address a staggering $2 billion debt.

The company's ownership structure has also faced scrutiny. While 777 Partners claimed a 94.1% stake in Everton F.C., the deal collapsed in 2024 as the club sought insolvency advisers. Furthermore, their involvement in Sevilla FC was complicated by a minority stake held through a group called Sevillistas Unidos S.L., which denounced the firm for its branding. These tensions, combined with allegations of money laundering and financial impropriety, have left the firm's legacy as a cautionary tale of aggressive private equity in sports.

Despite the turmoil, some assets have shifted hands. In late 2024, Romanian businessman Dan Șucu acquired 777% of Genoa CFC for €45 million, though the American insurance firm A-CAP—which assumed several 777 stakes in July 2024—contested the finality of the sale.

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