The sale of FC Nantes, reportedly for 100 million euros plus bonuses, has sparked debate about whether the deal is economically viable. David Gluzman, an economic expert in the sports industry, has questioned the credibility of the figures, pointing out that the valuation is four times the estimated turnover of a Ligue 2 club—a multiple usually reserved for teams in the Premier League. He doubts whether Nantes should be placed in that category. Waldemar Kita, the current president of the club, has disputed the figures, calling them false and claiming they are meant to destabilize the situation. Paulo Tavares, the project's lead, says that 300 million euros has been raised from investors, a claim Gluzman finds surprising due to the lack of transparency about the lenders, investors' strategies, and how long they plan to hold onto their investments.
Tavares, founder of Phenix Sports Invest, has previously tried to buy other French football clubs, including AS Saint-Etienne, Valenciennes, and Troyes, but without success. His proposed acquisition includes a detailed plan for the club's future, such as returning to Ligue 1 and drawing inspiration from clubs like Borussia Dortmund, Benfica, and Lille. The plan also includes improvements to the stadium and the Jonelière training center, though the latter is protected under the Natura 2000 ecological designation, which means it cannot be expanded. The proposal also features innovative elements like a "super VIP experience" and a "smart supporter scarf" designed to enhance fan engagement.
The document outlining the project highlights Tavares as the "cornerstone of the project" and includes notable figures such as Marcelo, a former Brazilian international and Real Madrid legend, who would become the club's ambassador. Other notable names include Arsène Wenger, José Mourinho, and Marcello Lippi, who are expected to attend matches. The proposed structure also includes roles for former basketball player Charles Kashema as sports director and Paulo Meneses as recruitment director.
The DNCG, France's sports financial watchdog, will play a crucial role in deciding the future of the takeover. With new powers granted by the Sports Law enacted in August, the DNCG can veto the acquisition if it deems the financial plan non-viable. Gluzman supports this power, emphasizing the need for the DNCG to assess the acquirer's financial stability and business plan. The takeover has also drawn attention from the city of Nantes, with the subject to be discussed at a municipal council meeting. The city has had a strained relationship with Kita since opposing his stadium project in 2019. The CSE, representing the club's employees, has been invited to an emergency meeting to discuss the sale, highlighting the uncertainty and questions surrounding the takeover.
FC Nantes takeover faces scrutiny over valuation and regulatory approval
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