Private investment firm 777 Partners has completed its takeover of Belgian football club Standard Liege.
The American-based company will purchase 100% of the club’s shares from former owner Bruno Venanzi. Financial terms of the deal were not disclosed.
Standard Liege becomes the latest club to join 777’s portfolio of football clubs, having acquired Serie A side Genoa and Brazilian outfit Vasco da Gama, as well as owning a stake in Sevilla FC.
“Bruno Venanzi has reached an agreement with 777 Partners,” stated a Standard Liege spokesperson.
“The signing of the transfer agreement has taken place and the completion of the transfer will normally follow within a few weeks according to the usual procedure.
“777 Partners is looking forward to taking on this new challenge and helping the club continue its development and return to its glory of yesteryear.”
Despite not having won a Belgian league title since 2009, Standard Liege have a rich history within Belgian football, winning 10 league titles and 8 Belgian Cups since their formation in 1898.
Out of Belgium’s most decorated clubs, Standard Liege is now the first team to be owned by foreign ownership and are the 10th Belgium side to be backed by investors outside of Belgium.
Former owner Venanzi announced he was open to selling the club last year after he attempted to build upon his predecessor’s – Roland Duchatelet – expansionist policy.
Moving away from football, 777 has recently invested £7 million into the British Basketball League (BBL), acquiring a 45% stake in the league.