Nenking refuses to pay its share, the rescue by Peugeot compromised

The takeover agreement announced this week between the Chinese shareholder of FCSM and Romain Peugeot is called into question according to Cédric Perrin, senator for the Territory of Belfort, who evokes a “plan B”.

The takeover agreement announced on Wednesday between the Chinese shareholder of FC Sochaux-Montbéliard (FCSM) and a Peugeot heir seems compromised, the Chinese consortium Nenking ultimately not paying its share, said Sunday Cédric Perrin, senator of the Territory of Belfort.

The Chinese investor took a different decision from the one he had his emissaries sign last week, which implied that he would remain in the capital of the FSCM to the tune of 4 million euros, Mr. Perrin told AFP. AFP

Collecting 12 million euros, including 4 from the Nenking consortium, is the “prerequisite“at the hearing, by the CNOSF (French National Olympic and Sports Committee) of the request to maintain the club in Ligue 2 which should be held on Monday afternoon, underlined Mr. Perrin.

«Plan B»

Despite this defection by the Chinese investor, who did not announce it officially, a “plan B“was planned and even”anticipated“, continued the senator. “Everyone got together a lot“to save the club,”communities too“, he said.

Cédric Perrin hopes that this “plan B» sera «effective“, without being able to give the details.

Asked by AFP, Romain Peugeot and his entourage could not be reached immediately.

Founded in 1928, the club was a model of stability for almost 90 years when it was owned by the Peugeot family. But in eight years, its Chinese owners have pushed it to the brink of bankruptcy.

The current owner, the Nenking consortium, a real estate specialist who no longer wishes to invest in the Franche-Comté club, had indicated that it was ready to part with it for 12 million euros.

Romain Peugeot, who came to the club’s rescue, undertook to pay 8 million euros for the takeover of the club by mobilizing a network of investors supported by local authorities.

Nenking was, under the agreement initially concluded, to remain in the capital of the club to the tune of 4 million euros, a sum which would be reimbursed to him later.

Emmanuel Macron also had, last week, “wished to express to the owners its attention to safeguarding the FCSM and its employees as well as its training center“, had indicated to AFP a source of the entourage of the president of the Republic.

Facebook
Pinterest
Twitter
LinkedIn
Email

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *