Toulouse FC, demoted to League 2, has been acquired by the american investment fund RedBird Capital Partners, announced on Monday, the latter, now owner of 85 % of the shares of the club and was immediately appointed to the presidency, Damien Comolli, ex-leader Liverpool, in particular. Olivier Sadran, president of the club lantern rouge of the last L1 before the premature termination of the competition because of a pandemic, the sars coronavirus, has left his duties, but retains 15% of the capital, said the RedBird in a press release. Olivier Sadran owned the club since 2001 when the team had been relegated in National.
The TFC, representing the fourth largest city of France, is the 9th football club in League 1 or League 2 to pass under foreign capital after Paris, Lille, Monaco, Nice and Auxerre and Sochaux (Ligue 2), the 3rd under the star-spangled banner with Marseille and Bordeaux. "We are proud and happy to contribute to writing a new chapter in the history of the club and perform all of its very great potential," wrote Gerry Cardinale, founder and managing partner at RedBird Capital Partners, quoted in the press release.
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Make a "return to Toulouse FC at the highest level"
"I would like to welcome Gerry and the RedBird as new partners in an organization and a city that occupy a large place in my life," replied Mr. Sadran. "I am confident that, together, we have the energy, expertise and resources necessary to get the club to the top speed ", he said. The amount of the transaction was not disclosed, but the sports daily The Team had mentioned recently the figure of 20 million euros.
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The TFC, 20th of L1 at the time of the premature termination of the competition in mid-march, has agreed, at the end of June, its relegation to the lower floor, after having appealed in vain to the justice. The "Téfécé" moved in the elite since 2003. RedBird Capital Partners, founded in 2014 by Gerry Cardinale, managing over three billion dollars of assets. The investment fund is already present in the sporting environment, in particular through franchises of baseball (New York Yankees) and football (Dallas Cowboys). It has also invested in image management of high-level athletes.Updated Date: 20 July 2020, 06:33