[CLUB RUGBY] United Arab Emirates Billionaire to buy French club

[L'irlandais]

Breaking news, well almost.
(The article is actually over two weeks old and the imminent signing of contracts still hasn’t taken place.)

A billionaire takeover of Béziers would see them become the first European club to have a majority share outside of Europe. ...French Rugby Federation of today still had not received any documents from the future buyers of the club.

English take on an article from Midi Olympique

Club website has no updates as yet.
l’AS Béziers Hérault watch this space!

 

[L'irlandais]

It appears the deal has fallen thru’ as they could not provide adequate proof to French government agencies.

At least half a dozen of Europe’s leading soccer clubs are owned by investors outside Europe. Seems only a matter of time before Rugby follows suit.

 

[L'irlandais]

The United Arab Emirates (UAE) attracts all sorts of money these days.
So unsurprising the necessary guarantees were not forthcoming.

In May, Kinahan became a special adviser to KHK Sports, an organisation set up by Bahrain's Prince Khalid bin Hamad Al Khalifa to bring lucrative combat sports events to the Gulf state.

“His Highness recognises the importance of sporting events in promoting the Kingdom of Bahrain globally and enhancing the Kingdom’s tourism industry and the economy,” KHK said in a statement. “His Highness appreciates the tremendous value Mr Kinahan will lend to the organisation.”

Money laundering is a thing. Clubs struggling in the midtable of second division rugby need to be wary when somebody comes along and says «*We will buy your club for €1 symbolic, pay off your €5million debts, built a new stadium for Top flight European competitions, and payroll an all star squad.*»
:holysheep: What more could you want?
Perhaps the question we should be asking is Why would you want to invest in our club? I sincerely doubt Khalid bin Hamad Al Khalifa sees Béziers potential.

 

[Camquin]

I do not believe you invest in European sports teams, they all run at a loss and until there is a meaningful salary cap significantly below expected income they always will.

The only people actually doing it for the money are CVC buying shares in TV contracts from people desperate for cash.

 

[L'irlandais]

I agree. The salary cap in France is difficult to enforce.
Professional football has been added to the EU’s watchlist of money-laundering risks, as the bloc admitted it faced a “structural problem” in its fight against illegal financial flows.

“Professional football’s complex organisation and lack of transparency have created fertile ground for the use of illegal resources,” the European Commission said on Wednesday. “Questionable sums of money with no apparent or explicable financial return or gain are being invested in the sport.”

If you look at Toulon, Mourad Boudjellal struggled in 2006 to get them into the Top 14. Last season he gave up control of the club. No guarantees, whatsoever that Beziers could ever match that rise and fall.

 

[MichaelDurant]

Good to know, thanks for sharing.

 

[beckett50]

I wasn't aware that France had a salary cap, which is why so many of the top cubs are in the financial mire?