Lender Hires Moelis to Evaluate 777 Partners Football Assets, Putting Everton Deal and Multiclub Empire at Risk

A-Cap Brings In Restructuring Muscle

Advantage Capital Holdings — known as A-Cap — has hired investment bank Moelis & Co. to review the football portfolio held by Miami-based 777 Partners LLC, according to Bloomberg, which reported the story. A-Cap is a major lender to 777, and its loans are secured against some of 777's assets.

Moelis is evaluating a range of options, including potential asset sales. Deliberations are described as early-stage, and no sales have been decided. Representatives for A-Cap, Moelis, and 777 all declined to comment.

What 777 Actually Owns

777's football holdings span four countries: Vasco da Gama in Brazil, Genoa Cricket and Football Club in Italy, Hertha BSC in Germany, and Red Star FC in France. The firm has also been pursuing English Premier League club Everton FC since agreeing to a deal with owner Farhad Moshiri in September 2023.

That Everton acquisition has been plagued by financing problems and questions about how 777 manages its broader portfolio of businesses. Moshiri told fans he had received unsolicited approaches from other potential buyers but said he would not negotiate with anyone until the 777 sale agreement expired at the end of May — a deadline that has now passed.

The Debt Web

The financial structure around 777 is complicated and contested. Leadenhall Capital Partners filed a lawsuit in New York alleging that 777 co-founder Josh Wander double-pledged assets as collateral, meaning the same assets were used to secure loans from multiple lenders simultaneously.

Leadenhall's lawsuit also claims that A-Cap and 777 are so intertwined that A-Cap has been able to block 777's efforts to restructure loans owed to other creditors. Leadenhall claims A-Cap was owed more than $2.2 billion by 777-affiliated entities at the end of last year. A-Cap has rejected any suggestion it has an ownership stake in 777.

As a secured lender, A-Cap has every right to protect its collateral by bringing in an advisor. Hiring Moelis is standard creditor procedure, not necessarily a sign of imminent collapse. Lenders routinely commission portfolio reviews when borrowers show financial stress, and an evaluation does not equal a fire sale.

Choosing Moelis specifically, a firm with a growing sports-sector track record that includes advising on the 2022 Chelsea FC bid, the Grasshopper Zurich sale, and the Phoenix Suns and Mercury sale, signals that A-Cap is treating the football assets as a realistic exit path, not just collateral on paper.

The Multiclub Model on Trial

777 was among the early advocates of multiclub ownership, a structure that groups multiple football clubs under one umbrella to share player development pipelines, reduce transfer costs, and unlock larger sponsorship packages. The theory is appealing on paper. Critics have long argued the model simply turns smaller clubs into feeder operations for the flagship team, stripping communities of competitive, independent football.

777's financial troubles show the model carries real financing risk when the parent entity overextends across too many markets at once.

What Comes Next

The unresolved question is whether Moelis recommends a partial sell-off of one or two clubs, a full liquidation of 777's football holdings, or some restructuring path that keeps the portfolio together under new terms. That determination will directly affect the fate of Everton's sale process, Vasco da Gama's ownership, and Hertha BSC's already turbulent recent history in German football. The Leadenhall lawsuit's outcome will also shape how much leverage A-Cap actually has to dictate terms versus other creditors. None of those questions have answers yet as of June 29, 2026.