Bruno Venanzi looks back on his problems with 777 Partners regarding Standard: “I was very worried, I was almost certain of bankruptcy”

You no longer have any connection with sport, then?

“I still love football, I still love Standard, but it’s no longer my business. Investing in sport is no longer what I want.”

Bruno Venanzi and Immobilière du Standard agree with 777 Partners

Were you vaccinated by your presidency and then the consequences of the takeover by 777 Partners?

“During my presidency (2015-2022)if I take stock, the club has won two Belgian Cups (2016 et 2018)finished vice-champion of Belgium (2018) and participated in five European campaigns. The last year has been more difficult and emotionally taxing. But, during my mandate, with the exception of Bruges, Genk and Ghent, who won more trophies? Anderlecht, bought by Marc Coucke in 2017, has not yet won a trophy…”

You highlight your sporting results, but financially, when you left, the club was in the red…

“I made the choice, after second place in 2018, to invest in transfers. It was the worst moment since the coronavirus crisis cut off the momentum, with financial repercussions. Looking back, we can always say that we should not buy Oulare and Avenatti, whose transfers and salaries cost almost 15 million, without return Add the loss of income linked to Covid and you have the account.

But what do you say when someone tells you that if the club is where it is now, it’s partly your fault?

“I cannot accept that it is said that I hid certain expenses at the time of the sale! Everything was in the data room, it was an open book. At the time of the buyout, the Americans had undertaken to inject 10 million €, we had advised 15. Instead, they took out a loan of 10 million… Since I left the club, they have never done better, on the contrary, the hole has even widened . But sometimes it is easier to say that it’s the predecessor’s fault. I also did it when I succeeded Roland Duchâtelet, and it wasn’t smart. But in the meantime, it’s not me who did it. recruited Davida, Perica or Laursen… Afterwards, there were impacts, like the lawsuit that the Pro League lost against the rights holders, but I assumed it, within the framework of our agreement, like other files , at my expense or No.”

Files sometimes poorly evaluated, like the trial, lost, against Alexandre Grosjean, your former general manager (the case is under appeal)…

“We had been informed of the risks that this could generate in the event of a trial. From our point of view, everything was mentioned and it was up to them to assume it. Obviously, when you have to pay, it’s always complicated.”

The agreement reached with the Americans took a long time to reach, to the point that you requested the appointment of an administrator last summer…

“At one point, in June, I thought the club was going to go bankrupt, I was almost certain of it. I was very worried. We had no news from 777 (Partners) and I indeed requested the appointment of an administrator to have access to the accounts and to establish the extent of the damage. That’s when A-Cap came in, rectified the situation and put the books in order.”

It was said that you had an agreement with the Americans to recover the club under certain clauses. Is this true?

“No, I never discussed this with the Americans. I requested access to the data room, to get an idea of ​​the accounts, I was refused. On the other hand, due to my fear of a bankruptcy, and that I was going to recover shares of a bankrupt company, I contacted potential investors, Belgian and foreign. But finally, a few weeks later, A-Cap took over.”

Is it true that, during the sale, you changed your mind, for 777 Partners rather than JKC Capital, because the Canadians asked for more guarantees?

“No, that’s not true. The Canadians thought they were the last candidates in the running and tried to lower certain amounts. I had planned to remain a shareholder, with JKC Capital, but when I saw that they were discussing, I “I had the feeling that it would be difficult to work together. I asked 777 Partners if they were willing to put in a little extra effort and they said yes.”

Looking back, do you regret your choice?

“I don’t know. With hindsight, it’s always easier to comment on a decision. But, at the time, based on what they presented, he was a better candidate. I also remind you that they had been validated by PwC, a major Belgian bank, a major American bank and the licensing commission.”

At no time did PwC alert you?

“No. At the time, their figures were duly published. They had assets worth 3 billion. Afterwards, obviously, we learned that they took out loans by giving the same securities several times as guarantee. They had paid the first portion of the buyout. But, six months after the buyout, they started sending letters to contest certain amounts. I sold several companies, we even made big transactions, the sale of Lampiris to Total for example. always be discussions, afterwards, but a relationship such as this, which takes place through letters from lawyers after six months, I had never experienced…”

We saw you in Finland, as part of a basketball hall project with a Lithuanian investor, Giedrus Pukas. Was he one of the potential investors in June?

“I remained in contact with Mr. Pukas after the failed sale of Standard to Sergey Lomakin, since Mr. Pukas was his right-hand man. We worked together recently on a basketball hall project in Helsinki, and the experience of the supporter. He had seen our project, at the time, for the Sclessin stadium, via Real Estate, and asked me for information. It was limited to this information gathering, football did not. I’m not interested.”

Do you still have contact with Sergey Lomakin?

“Non.”

Have any investors suggested that you join a Standard buyout project?

“Yes, but my answer has always been no. And it remains the same: unless there is a serious problem for the survival of the club for which I would be ready to help, it’s no. I can help, advise with pleasure, but I gave for the management.”

Have you returned to the stadium to watch a Standard match?

“I was at Anderlecht – Standard, at the invitation of Thorgan Hazard. And I was invited by Standard to attend the match against Cercle Bruges (23 November). But I won’t be able to go there. Now that the conflict is resolved, I want to return to the stadium, at the invitation of the club or with friends, because I remain committed to Standard.”

Do you still have contact with Jean-Michel Javaux?

“No and it’s a serious disappointment on a human level. The day after he took office as administrator of the club, I never had any further contact even though I had suggested his name so that he could be a link with the economic world of Liège, for the new owner And then I did not appreciate his criticism in the press, or among certain groups of supporters, on my management. He said that if the club was there, it was to. my fault I would have at least hoped that it would. send me a message to say: listen Bruno, I am now an administrator, I am going to say things that are not very pleasant for you. Pierre Locht, albeit belatedly, did it. Above all, Javaux was a friend, we knew each other before Standard. It’s all the more disappointing.”