Melbourne Victory part ways with 777 Partners to set ‘clear path for future investment’

Melbourne Victory has announced the withdrawal of 777 Partners’ interest in the club, which were under the control of holding company A-CAP.

In the club’s statement, they acknowledge it is a “pivotal moment” concerning the growth both on and off the field.

In October last year, investigative outlet Josimar reported that 777, an American private investment company, had become insolvent, which raised questions about Victory’s position.

However, those concerns were too significant to ignore.

“We are grateful for the support we have had from A-CAP since taking control of 777’s interests in the Club and we are excited about the next chapter,” said Melbourne Victory Chairman, John Dovaston.

“This transaction will help the Club stabilise its shareholder base and clear the path for future investment that will in turn strengthen Melbourne Victory moving forward.”

Advantage Capital Holdings LLC, who run operations as A-CAP, offer a wide range of insurance and financial services, with the firm as a major investor in 777 Partners before diverting.

David Shaw, A-CAP’s Portfolio Manager, said the company is “grateful for the opportunity to have been part of this journey.”

“It is with great confidence and optimism that we pass the torch onward, knowing that the Club is in capable and visionary hands. We are excited to see how this new chapter unfolds and are confident that Melbourne Victory will continue to thrive and achieve new heights,” said Shaw. 

“We wish the Club the best and are grateful that A-CAP could help facilitate positioning the club to capture the bright future ahead of them, while simultaneously delivering a valuable outcome for our policyholders.”

In October 2022, the four-time A-League champions announced they had struck an agreement with 777, in what was described by then Victory Chairman Anthony Di Pietro as “incredibly exciting” from a commercial and strategic perspective.

The announcement brings the saga to an end, with any potential new owners of the shares currently unknown.