The French League is looking for a fund to pump up to 1.5 billion euros

The French League is looking for a fund to pump up to 1.5 billion euros

The French League Clubs Association is working to establish a commercial company, and is looking for an investment fund that will pump between one billion and 200 million euros to one billion and 500 million euros.

After the clubs incurred financial losses amounting to 730 million euros last season.

Lille club president Olivier Letang told French network BFM:

The creation of this subsidiary is one of the most prominent projects of the president of the French Clubs League, Vincent Labron, although there is no agreement yet on the distribution of the funds.

Litang added:

“We are still far from the goal because we have to ratify the distribution criteria and then find a fund that owns 8-12% of the capital value of this trading company.”

And last March:

The French National Council agreed that the French League could set up a company to market and manage audiovisual investment rights, but recognized that the league should own at least 80% of the capital and voting rights in this new entity.

Labron presented the project last Wednesday to all the clubs of the French League (first and second divisions), and was accompanied by representatives of two commercial banks and a law firm, according to the newspaper (L’Equipe).

If the project is implemented, the clubs will have to formally decide whether to follow this path or not, in addition to the system for distributing the fund’s amounts, something that Paris Saint-Germain supports, according to (L’Equipe).

“Currently we are at the beginning of the process, but we want to avoid the obstacles that occurred in Italy and Spain,” Letang said.

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