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777 Partners complete takeover of Red Star FC

Third-tier side Red Star FC have this evening announced the completion of American investment fund 777 Partner’s takeover of the club, buying out 100% of shares.

The announcement of president Patrice Haddad’s exclusive talks with 777 had provoked the fury of the club’s fans, to the point of protests causing the team’s match against Sète to be called off.

A fan group had yesterday released a statement claiming that Barcelona defender Gérard Piqué along with two other investors had expressed interest in buying the club, and called for Haddad to impose a moratorium on the sale of the club in order to examine all offers on the table.

Haddad will remain in his position at the club, while 777 Partners. Josh Wander, the fund’s co-founder and managing partner, states that the short-term goal is to return to Ligue 2 and have its own youth academy.

 

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