Beye, who also does punditry for Canal Plus, told L’Équipe, in the wake of his departure from Red Star, that he felt “ready” to manage in Ligue 1. The Frenchman notably set his sights on a dream move to Olympique de Marseille, stating that he’d “run there” if the offer presented itself. But despite there being a vacancy at OM this summer, it was Roberto De Zerbi who filled it.

There were other openings, notably at Stade de Reims, however, ultimately, no Ligue 1 side appointed Beye, who has now been left without a job. Despite the turn of events, he is not regretful as he awaits the “right project” in order to return to management. 

“There is no disappointment regarding this summer, not at all because you have to find the right project, and this project, it will be found in good time,” he told Le Parisien. With some managers already under pressure in Ligue 1, an opportunity may yet present itself. 

GFFN | Luke Entwistle

Having already signed two players so far this window, Red Star are hoping for a prestigious third signature in the former AS Roma, Sevilla, Stoke City, and Blackburn Rovers man. Le Parisien report that Red Star – who won the French third tier convincingly last season – have began discussions with the midfielder. Whilst nothing has been finalised between the two parties, there is concrete interest from both sides over a deal.

Nzonzi, who grew up in the Parisian region and played at fellow historic side Racing CFF, could be close to a return to his native region. For Red Star, Nzonzi offers much-needed reinforcement and experience for their return to France’s second division for the first time in six years; especially since the departure of former club captain Cheikh Ndoye.

GFFN | George Boxall

Following a multitude of court cases and allegations of fraud, 777 Partners are now reportedly looking to sell their club assets after restructuring specialists were called in just before the Florida-based firm failed in their bid to take over Premier League side Everton.

Shawn Todd heads the Dallas-based firm who are interested in buying the five-time Coupe de France winners. He, along with his sons and partners Patrick Todd and Philip Todd, specialise mainly in the investment of distressed property assets in the local area and the construction of luxury apartments.

Speaking with Bloomberg, Shawn Todd declined to comment on any potential bid but said he would be in Paris next week. “Many of these young men and women live within a few kilometres of Red Star, its stadium and its headquarters,” Todd told Bloomberg financial journalist Jil Shah.“How wonderful it would be for these young men to be a part of the greatest and oldest Parisian club in history, Red Star.”

Former PSG striker Péguy Luyindula could be involved

The Todd family are reportedly looking at working with former Paris Saint-Germain striker and France international Péguy Luyindula, who was previously involved in failed takeover bids of third-tier sides US Orléans and FC Rouen. Luyindula previously had a six-month spell as sporting director at FC Dijon in the 2020-2021 season, when Les Rouges finished 20th in Ligue 1 and were relegated to the second tier.

Red Star were promoted to Ligue 2 as champions of the Championnat National last season, but have been the site of protest against multi-club ownership. News of 777’s takeover was greeted with the abandonment of a third tier fixture back in 2022. With the recent spout of allegations and revelations against the investment firm, supporters once again mobilised this summer with protests against multi-ownership and 777 Partners.

Photo Credit: Florian Robert – Furopics

GFFN | George Boxall

Beye, who is also a consultant on Canal Plus, has told L’Équipe that he is “ready” to manage in Ligue 1. An opportunity may present itself. As reported by Ouest-France, Beye held talks with the hierarchy at Stade de Reims after Will Still’s shock departure last week. With Samba Diawara taking charge of Les Stadistes on an interim basis until the end of the season, they are taking their time to make a decision. 

However, Beye has set his sights on one job in particular – the job at Olympique de Marseille. “If they show interest, I would go. It is the club that has brought me the most emotions since my childhood. If OM call, I’ll run there. I have no problem saying that,” the Red Star manager told L’Équipe. 

The Marseille job will be available again this summer, as it was last summer and the summer before that. Jean-Louis Gasset replaced Gennaro Gattuso on an interim basis back in February but he has made it clear that he will not remain beyond his mandate. However, it seems that, to Beye’s disappointment, Lille OSC’s Paulo Fonseca is the clear front-runner to take over at the Vélodrome. 

GFFN | Luke Entwistle

Perhaps it was perfect timing: the evening when Red Star supporter’s mobilised with fake bank notes depicting co-founder Josh Wander, it was reported by Bloomberg and the New York Times that London-based firm Leadenhall Capital Partners have brought a major fraud claim against 777 Partners.

The Miami-based investment firm allegedly borrowed $350m from Leadenhall by pledging assets that it either didn’t own, or didn’t exist. Bloomberg reports that co-founder of 777, Josh Wander, double-pledged assets backing loans to the firm, and admitted to breaches in agreements – according to the document filed in New York’s federal court, seen by Get French Football News.

“A house of cards on the brink of collapse”

“To induce Leadenhall to fund their operation, Wander, along with his group of alter ego entities, ‘pledged’ over $350 million in assets as collateral to Leadenhall, knowing all along that the assets either did not exist, were not actually owned by Wander’s entities,” reads the claim brought to New York’s federal court.

The accusation in the court claim document are nothing short of astonishing: 777 Partners are accused of running a “giant shell-game at best, and an outright Ponzi scheme at worst” where the Miami-based investment firm are allegedly taking money from investors and lenders, and move it around various “money-losing financial ventures”.

Of course, these financial ventures include owning five football clubs: Hertha Berlin, Genoa, Standard Liège, Vasco Da Gama, and Red Star FC. It means, in theory, that these clubs have been bought by 777 Partners, with finance provided by creditors at lower rates under the pretence of secured financing. It explains an astonishing rate of acquisitions from the period of 2021-2023, which saw all five clubs come under majority ownership. It also plays into their current bid to to buy Premier League side Everton, which has led to large amounts of scrutiny on the multi-club project’s operation and intentions.

“Wander has already admitted to rampant and fundamental breaches of the parties’ agreements,” the claimants say, crucially adding, “the only question now is whether Leadenhall will be able to recover millions of dollars in damages from a house of cards on the brink of collapse.”

Leadenhall’s final assertion is the most worrying, and has been confirmed by reporting from investigative outlet Josimar. There is a real possibility that the multi-club project crumbles sooner that expected; sources contacted by Get French Football News have recently asserted that 777’s house of cards could fully unravel before the end of the month.

At Standard Liège, the situation is increasingly desperate: Belgian journalist Sacha Taviolieri reports that the club’s bank account is currently empty and that players have been told they will not be paid until the end of the season. There has reportedly been no sign of communication from the American ownership, as some of the club’s officials are struggling to contact 777 Partners. Former owner Bruno Venanzi is reportedly beginning the process of re-seizing control over the club, triggering a buy-back clause of shares after 777 missed further payments to the club.

“The institution of Red Star is in danger”

Back in France, Red Star’s supporters are increasingly worried about the position of the club in the midst of an ongoing crisis which is beginning to hit all of 777’s clubs. “We are extremely worried, but also angry, because when 777 Partners wanted to buy the club, we immediately opposed the takeover,” said Vincent Chutet-Mezance, president of Red Star supporter’s Collectif Stade Bauer in an interview with Ouest-France this morning. “We’ve been saying for two years that 777 Partners’ practices are not clear and that this investment fund is certainly not there for the good of Red Star.”

“I didn’t think it would happen so soon, but it’s all the consequence of what this ‘mafia-like’ group represents,” said Chutet-Mézence. “We’re worried for the club because, above and beyond all this, the institution of Red Star is in danger.”

Former owner Patrice Haddad sold 100% of Red Star to 777 Partners in May 2022, to much resistance from the club’s supporters, who caused the abandonment of a 3rd tier fixture against FC Sète when talks with the American investment firm were announced. Since then their relationship with Haddad, who has been kept in place as president of the club, has been fraught.

“If we’re in this situation today and the club falls apart tomorrow, it will be Patrice Haddad’s fault,” said Chutet-Mezance on L’Étoile Rouge’s former owner. “We need to move on quickly because the club’s survival is at stake We urgently need to find new investors. Now is the time to do everything possible to ensure that 777 Partners goes. They need cash, so I’d like to say to them: Take a few million here to pay your lawyers, wipe out your debts and leave”.

“If Habib Beye leaves, it will be the first signal”

The next days and weeks will be decisive in deciding the future of Red Star at every level. An official club communiqué today confirmed that manager Habib Beye will leave Red Star after deciding not to renew his contract with the club. According to RMC Sport journalist Fabrice Hawkins, his departure was motivated by uncertainty over the club’s project, certainty over the club’s project.

“If Habib Beye leaves, that will be the first signal that things aren’t looking too good,” said Chutet-Mezance on the subject of Red Star’s current coach, who is finishing off his third season with the club. “It’s the same with the squad. Clubs and agents aren’t crazy. When a club’s owners are threatened with bankruptcy, it’s usually a bit of a sell-off. If 777 Partners goes bankrupt, they’ll take everyone down with them.”

What happens if 777 Partners goes bankrupt?

Now here’s the tricky part. If 777 Partners are so damaged from their fraud trail that they have to enter insolvency, what happens to Red Star? If the fraud claim is won by Leadenhall, and 777 can’t pay – they may also have a claim to the Miami firm’s clubs. Yet it isn’t sure whether A-CAP (the company that fund 777) will also have some sort of claim for the clubs. Patrice Haddad could also act to take back control in the club financially, yet it was his decision to sell the club which put Red Star in this position in the first place – and he doesn’t possess a buy-back clause as Venanzi does in Belgium. 

Red Star have one thing going in their favour: the fact that 777 could sell the club for a reasonable margin, claiming that the Saint-Ouen side are now playing in Ligue 2 and their stadium is being renovated and has the potential to be a big force in the French capital. The trouble is that time is running out quickly for a potential buyer to come along…

Photo Credit: Bazil Fleury – @icietailleurs55 on Instagram.

GFFN | George Boxall 

Ouest-France reported several days ago that the former Newcastle and Aston Villa defender held talks with Ligue 1 side Stade de Reims, over the vacancy left behind by Will Still’s departure from the club. The Ligue 1 are searching for a new manager after confirming last week that Will Still would be relieved of his duties a year before his contract runs out. The Anglo-Belgian left the club along with his younger brother, deputy coach Nicolas Still.

Beye previously publicly admitted following Red Star’s promotion to Ligue 2 that he wanted to be fighting for promotion to Ligue 1 if he was to stay at the club from the northern suburbs of Paris. The Canal+ commentator only several days ago indicated that he had made his mind up about whether to extend his contract at Red Star or not. 

This comes amidst the reports that Red Star’s owners, 777 Partners have had a major fraud claim brought against them by London-based firm Leadenhall Capital Partners. The Miami-based multi-club owners have been accused of allegedly borrowed $350m by pledging assets that it either didn’t own, or didn’t exist. It came as supporters protested their ownership by handing out fake bank notes featuring the face of owner Josh Wander.

Photo Credit: Bazil Fleury

GFFN | George Boxall

Beye, a former Newcastle United and Aston Villa right-back, has led Red Star to a Ligue 2 promotion and a Championnat National title win. On Sunday, the former Senegal international announced on Canal+, where he officiated as a pundit, that he decided on the next step in his blossoming managerial career. Beye will be out of contract with Red Star next month and all signs point to him leaving the popular Île-de-France outfit. It would be a bold managerial appointment from Reims, the same way Will Still’s was.

GFFN | Bastien Cheval

The Miami-based investment firm have allegedly borrowed $350m by pledging assets that it either didn’t own, or didn’t exist. Bloomberg reports that co-founder of 777, Josh Wander, double-pledged assets backing loans to the firm, and admitted to breaches in agreements – according to the document filed last night in New York’s federal court.

Red Star supporters protest against 777 ownership

777 Partners are currently owners of third tier side Red Star FC, who have recently won promotion to Ligue 2 as champions for the first time in six years. The Miami-based firm are also struggling in the process of taking over Premier League side Everton, whilst already holding majority stakes in Hertha Berlin, Genoa, Standard Liège, and Vasco Da Gama.

The news of Leadenhall’s fraud claim against the Miami-based firm comes as supporters of Red Star last night gave out fake bank notes in protest of their ownership, following the brandishing of a “777 Out” banner during promotion celebrations two weeks ago. A match against FC Sète was abandoned in April 2022, when Red Star fans protested about the takeover of the club by 777 Partners.

GFFN | George Boxall

Will Still has emerged as a managerial target for Sunderland on more than one occasion and Lens boss Franck Haise has even been loosely linked to the soon-to-be vacant Liverpool job. With the futures of the respective coaches uncertain, this has left the two clubs on potential alert as they may be forced to search for replacements. 

Promotion confirmed

Habib Bèye has had a successful season in charge of the Paris-based club. The former assistant coach has secured promotion to Ligue 2 with Red Star and looks good to win the league with a ten-point gap established at the top of the Championnat National. This impressive season has evidently had an impact with Ligue 1 clubs sitting up and taking notice of Bèye’s managerial achievements.

GFFN | Liam Wraith

After watching his side drawing 1-1 against Nancy in the third tier, Red Star manager Habib Beye has voiced his anger at the French FA, accusing it of organizing a ‘religious discrimination’. “My view is that I truly respect my players’ faith of any kind“, Beye said in his post-game press conference transcribed by L’Equipe. “I also have players practicing Lent. One only sees the downsides but I only see the benefits. It creates cohesion, discussions, solidarity that people may not see on a football pitch.”

‘We are divided when we should unite’

It is therefore no surprise to hear Beye, whose Red Star team is leading the third-tier National 1 and heading towards a Ligue 2 promotion, rips into the French FA for the scrutiny solely imposed on Muslim players. “I call it religious discrimination. If we do it on one religion, we must do it on all religions, and that is not the case today. We are divided when we should unite around this logic of religion and sharing.”

Beye, who played for Newcastle United and Aston Villa during his professional career, has taken his Red Star side as an example to argue with the French FA’s stance. According to Beye, 19 out of the 26 players in his team were fasting the day they took on Nancy. “What bothers me is to think that players are not performing well because they are doing Ramadan. I have 14 players doing Ramadan, six were on the field. They fasted and broke their fast at 7:10 p.m., the game being held at 7:30 p.m. Did you see Walid’s game (Bouabdeli, who scored Red Star’s goal)? This gives you the answer to the puzzle that everyone is exposing today.”

GFFN | Bastien Cheval