Saint-Etienne, a well-known French football club, is currently in exclusive talks for a sale to Larry Tanenbaum’s Kilmer Group, the owner of the Toronto Raptors and Toronto Maple Leafs. The full purchase of Saint-Etienne by Kilmer Group is expected to be finalized within the coming weeks, according to a statement released by the club. This news comes just days before a crucial end-of-season game for Saint-Etienne as they aim to be promoted back to Ligue 1.
Larry Tanenbaum expressed his understanding of the importance of Saint-Etienne within its community and the broader landscape of French football. Referring to the club as the “beating heart” of the city and region in central France, Tanenbaum acknowledged the rich history and cultural significance of Saint-Etienne. The club, which has won the French championship 10 times, last claimed the title in 1981 during the era of legendary player Michel Platini.
With a 41,000-seat stadium that will serve as a venue for soccer tournaments during the Paris Olympics, Saint-Etienne is poised for a potential resurgence under new ownership. The impending sale is seen as a strategic move to secure a more prosperous future for the club, which has faced challenges in recent years including relegation from the top-tier league. The club aims to position itself for success by aligning with an owner who is reputable, experienced, and financially stable.
Larry Tanenbaum, the chairman and CEO of Kilmer Group, brings a wealth of experience in sports ownership through his involvement with the Toronto Raptors and Toronto Maple Leafs. As the chairman of Maple Leaf Sports and Entertainment, Tanenbaum has demonstrated leadership in the sports industry. The potential acquisition of Saint-Etienne aligns with Kilmer Group’s vision for expansion and diversification, with reports indicating a forthcoming franchise in Toronto for a WNBA team.
The negotiations for the sale of Saint-Etienne to Kilmer Group are being facilitated by Ivan Gazidis, the former CEO of Arsenal and Inter Milan. Gazidis, who has a strong background in football administration, is working to ensure a smooth transition of ownership for Saint-Etienne. The involvement of key figures like Tanenbaum and Gazidis underscores the significance of this potential deal for all parties involved.
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