The mysterious man behind 777 Partners, the strange private equity firm that owns Bonza

He appears confused, frightened even, mouth slightly agape, droopy eyes, a well-groomed, innocent-looking student barely in his 20s.

Nor did it dent his career prospects. From that February 2004 bust, he went on to graduate from the University of Florida and forge a career in the world of finance. It was just one of a growing number of disputes in which 777 Partners has become embroiled, with court battles over late or non-payments stretching across its recently constructed empire.

During the past seven years, this mysterious, little-known operation has plunged hundreds of millions of dollars into businesses that lose money.That includes buying large stakes in some of the world's best-known European football teams, which alone appears enough to sink the 777 Partners operation. But more on that later.

Three of those planes were leased to Bonza until this week. King obviously formed the view that Bonza didn't earn enough cash to pay for his aircraft. Starting with Spanish giant Sevilla, it then took control of the historic Genoa CFC, moved across the Atlantic to Brazil with the purchase of Vasco da Gama, then Belgium's Standard Liege, Red Star in Paris and Hertha BSC in Germany.Its most recent expansion was Melbourne Victory with a $US6.1 million investment last year and promises of a further $US20 million by 2028. All up, analysts estimate it has spent around $US900 million on its foray into professional football.

In addition to football teams, 777 Partners has plunged into UK basketball, owning the UK Basketball League along with the UK Lions.

Source: Law Daily Report (lawdailyreport.net)

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