FEATURE | €30m over 5 Years – 777 Partners reveal plan for Red Star FC

CEO Josh Wander and managing director of 777 Partners Juan Arciniegas represented Red Star FC’s new owners at a special council meeting at the town hall of Saint-Ouen, on Wednesday, June 8th. The Mayor of Saint-Ouen, Karim Bouamrane, also invited club president and former owner Patrice Haddad along with local elected representatives and the supporter’s group Collectif Stade Bauer.

Haddad argued in his introduction that the arrival of 777 Partners was the result of a long process aimed at choosing the buyer with the most assets to accelerate the development of Red Star FC and optimise its sporting ambitions while, at the same time, cultivating its working-class identity and its territorial roots. “We can make a promise to everyone: We will always operate according to what is best for Red Star FC,” Wander emphasised, presenting his company, founded in September 2015 in Miami. Wander also expressed that the appeal of their history and working-class backgrounds that guides 777 Partners’ commitment to the clubs in which it invests.

Arciniegas, meanwhile, explained that 777 Partners had activated a five-year €30m investment plan, of which €7.5m has already been invested to boost the club’s momentum, with the stated ambition of a return to Ligue 2 next season so that Red Star FC can open its training centre. “We are in a long-term process, we don’t expect to have results tomorrow, it will take time, but that doesn’t bother us,” said Arciniegas regarding the Ligue 1 objective, “we are also very satisfied to have been able to extend Habib Beye. Furthermore, we want to rely on local talent, both through the training of players and through the choice of Reda Hammache, for example, as sporting director, who knows the region very well”.

Vincent Chutet Mézance, president of the Collectif Stade Bauer, a supporters group, expressed the fans’ ongoing anger on the lack of consultation made by the club – whilst also affirming how the group “cannot see how an investor based 5,000 kilometers away and who owns clubs all over the world is going to be involved with us on a long-term basis.”

George Boxall

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