Everton are set to be the next football club to be added to the global stable of Miami-based investment firm 777 Partners – but what should fans expect?

The prospective buyers describe their multi-club ownership model as being that of long-term business builders, rather than speculative investors looking for a profit from acquiring and saving distressed assets.

In 2018, 777 Partners purchased a minority stake in La Liga side Sevilla, and it has since bought Serie A side Genoa, French third-tier club Red Star Paris, Hertha Berlin of Germany, and Belgians Standard Liege in Europe, plus Brazilian giants Vasco da Gama.

Some of those clubs have experienced relegations and protests since their involvement with 777 – but it hasn’t all been negative, with others enjoying some stability thanks to new investment.

BBC Sport looks at the different fates of the clubs.

Genoa: Relegation ‘was expected’

Genoa, Italy’s oldest football club, was the first club 777 Partners owned a majority stake in.

One of 777’s first moves after taking over in September 2021 was to appoint former Chelsea striker Andriy Shevchenko as manager – but he was sacked within two months.

Genoa dropped to Serie B in 2021-2022, though they were promoted straight back to Serie A last season.

777 says it doubled the squad value in its first full year of ownership while halving squad costs and has vastly improved club revenue in its 22 months in charge.

Tobia Salvai, of the Genoa UK Supporters’ Club, told BBC Sport: “I was happy when 777 took over and I could dream of a bright future for Genoa.

“For many years Genoa has been badly managed by the previous owner and there were always money issues, or planning and strategy problems.

“When 777 came in, we were all curious. They stated they were willing to bring Genoa to the top of Italian football as part of a long-term project.

“We were relegated soon after 777 took over, but that had been on the cards for two seasons previously.”

Genoa was 777’s first majority investment in football, and Salvai – who lives in Edinburgh – believes the firm has learned on the way.

“They have invested in the club’s academy, and have recently launched a bond to involve the fans and locals in the project,” he said.

“The club’s debt is still consistent but under control and Genoa sold 27,777 season tickets, which is a new record.

“777 are not gods or saints – they are in to make money for their investors. But the fact is that they are the best insurance for our future.”

Hertha Berlin: Protests against ownership

Hertha Berlin are the latest in a line of 777 clubs whose supporters have protested against ownership by the firm, which took a 64.7% stake in the German club in March.

However, due to German football’s ’50+1 rule’ on voting rights, 777 does not control the club.

The Bundesliga side were relegated two months later – for the first time in 11 years – and now find themselves in the lower reaches of Bundesliga 2.

Fans unveiled a banner during last Sunday’s game against Braunschweig showing their disdain for 777 co-founder Josh Wander and his company. It read: “Josh Wander, the only thing we assure you is our disapproval of you!”

Liverpudlian Mike Fisher, who supports both Hertha and Everton, told BBC Sport: “When you look at what is going on elsewhere within 777’s collective of clubs and you see sides underperforming and fan unrest, it’s hard not to worry.”

Fisher was also concerned about Everton’s new stadium at Bramley-Moore Dock being used as an “asset” to borrow against by any future owner.

He acknowledged that Hertha needed to move players on after relegation, but that many left for low sums, saying: “We’ve spent very little strengthening the squad, too.

“We feel they are there to make money selling off what they can to get a return on their investment.”

Fisher, who is a member of the Hertha UK Official Fanclub, is pragmatic about Everton’s future.

“It may be the only way to avoid administration – something we would not recover from based on recent seasons and current form,” he added.

“Everton could be the final piece of that multi-club puzzle that could see players traded between sides to benefit all in a sustainable model with limited debt.”

For its part, 777 says in the few months it has been involved with Hertha it has been working hard to stabilise the club’s finances while being competitive on the pitch.

Red Star Paris: 777 acquisition faced some hostility

In France, 777 faced hostility from a section of supporters of Red Star when it bought the club in May 2022, because of the Parisian side’s left-wing history.

While protests have not hindered L’Etoile Rouge on the pitch – they top France’s third tier – some fans have stayed away because of the Americans’ ownership.

George Boxall, an English journalist based in Paris and a Red Star fan, told BBC Sport: “I’d spent nine months getting to know their left-wing past and the link of the Paris suburbs to the club, and how closely knit it is to the community.

“I instantly thought, ‘no, this doesn’t fit’.

“It’s not the fact the club is owned by Americans, it was that I was more worried about Red Star’s position as the lowest-ranked club in the so-called ‘777 family’.

“There was no consultation with supporters, which was poor from the current president Patrice Haddad, who eventually forced the deal through despite heavy resistance.”

There has been support from France’s left, according to Boxall, as well as efforts in the French parliament from local MP Eric Coquerel to try to stop multi-club ownership from spiralling out of control.

He added: “From the fans’ perspective, there are still some anti-777 chants, banners and protests at games.”

Standard Liege: Ongoing protests and relegation fears

In March 2022, the 777 group bought Standard Liege.

Based in Liege and considered one of the country’s ‘big three’ alongside Anderlecht and Club Brugge, Standard finished a disappointing seventh last season and are struggling again, having won only one game so far this campaign.

Standard fans continued to protest during their match at Eupen as they unveiled banners which read “No money, no ambition” and “Your galaxy should not harm our future”.

The team have never been relegated from the Belgian Premier Division, and boss Ronny Deila – a former Celtic manager – left for rivals Club Brugge in the summer. Some Belgian media reports suggested he quit based on a lack of ambition he saw in the owners’ plans for the new season.

Vasco da Gama & Melbourne Victory

A month before 777 acquired Standard, it took a 70% stake in Vasco de Gama.

The Brazilians were promoted back to the country’s top flight shortly afterwards but are struggling near the foot of the table at present.

There was a promise of investment in the squad in a bid to compete with Brazil’s richest clubs in Palmeiras and Flamengo, but that has not materialised.

The firm has a minority stake, too, in A-League side Melbourne Victory. The Australians finished second bottom of the A-League last season, 27 points behind cross-city rivals Melbourne City.

777 controversies

Earlier this year, Norwegian publication Josimar reported 777 has faced allegations of fraud, offering illegal loans and failing to pay significant bills in the US.

In response, 777 released a statement, part of which read: “The reporting within the Josimar article is wholly misleading and contradicts basic guidelines of journalistic integrity.

“The article is intentionally structured to mislead and undermine 777’s efforts across a number of industries, reflecting abject ignorance and misinformation on investment models across aviation and football, in addition to idle claims that bear no editorial relevance or rationale.”

Reports on 777 have also referenced that co-founder Josh Wander was placed on probation for 15 years in 2003 after receiving cocaine in the post while he was a college student.

“It was a stupid college thing,” Wander told the Financial Times in August. “So all of the success that I’ve had has been in spite of the fact that every time I’ve tried to do something, somebody brings that up and throws it in my face.

“And when I got involved in investing in sports, it became a perfect opportunity for those people that are haters to try to destroy you with things that are somewhat meaningless.”

Earlier this month, Wander was elected to the board of the powerful European Club Association (ECA), having stood as a representative of Belgian Pro League side Standard Liege.

The Premier League now has a more robust Owners’ and Directors’ Test (Oadt), which contains new disqualifying events for offences involving violence, corruption, fraud, tax evasion and hate crimes.

Once requested to do so, the Premier League will begin conducting its Oadt, and the length of that process depends on a number of factors including the complexity of the deal.

In 2021, 777 bought a 45% stake in the British Basketball League (BBL), in a deal which was determined to present no conflict of interest despite the same firm also owning the London Lions, who won the title in 2022-23.

Following the agreement with Everton, the BBL released a statement on September 15 in which it said 777 has “reiterated a commitment to continuing to grow the British Basketball League in the UK and beyond”.

Vanja Cernivec, general manager of BBL side London Lions, confirmed there had been an issue with some late payments to clubs, but praised the “support and investment” of the firm in the sport as “very positive”.