Paris suburb-based Red Star FC are hoping to secure survival in the final quarter of the Ligue 2 season, in their first campaign in France’s second division for six years. The ownership situation of France’s fourth-oldest club has been in a state of limbo since the multi-club project of 777 Partners went bust last Summer following a major double-pledging fraud claim being brought against the owners of Standard Liege, Vasco da Gama, Genoa, Hertha Berlin and the prospective buyers of Premier League side Everton at the time. Since then, the remaining clubs of the former 777 Empire were placed under the control of insurers, A-CAP.
According to a report from Norwegian investigative outlet Josimar, A-CAP are now also the subject of legal proceedings from US regulatory bodies – which could see the clubs formerly owned by 777 under control of authorities from states such as Utah and South Carolina.
Red Star FC's ownership situation has been in a state of limbo since 777 Partners went bust, but US regulators are acting to take control after claims against insurers A-CAP.
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