PARIS: France captain Kylian Mbappe has taken over as majority shareholder of Ligue 2 club Caen, Mbappe’s company Interconnected Ventures announced in a statement on Wednesday.
The new Real Madrid player, who came close to signing for Caen when he was younger, has acquired 80 percent of the shares through Coalition Capital, the investment entity of Interconnected Ventures, replacing US investment fund Oaktree as majority shareholder.
No figure has been released officially but French media reports put the acquisition fee at 15-20 million euros ($16-21.6 million). “This transaction marks a significant step in the club’s strategic development and reinforces its natural ambition to remain one of the most successful clubs in French football,” the club said in a statement.
“This acquisition will provide Caen with additional strategic resources to strengthen its sporting policy, modernise its infrastructure and develop innovative projects.” Mbappe’s close friend Ziad Hammoud will take over as chairman of the club.
Australian cricketers Mitchell Starc and Pat Cummins pose with the ICC Men’s Cricket World Cup 2023 Trophy during a...
Representational image of a ball with a bat in the background. — AFP/FileLAHORE: Karachi Blues defeated Quetta by 9...
Bangladesh's Taijul Islam delivers a ball during the first Test against South Africa.— AFP/FileCHITTAGONG,...
Carlos Sainz celebrates in Mexico.— AFP/file MEXICO CITY: Max Verstappen and Red Bull face a major challenge to...
Former Pakistani cricketer Asad Shafiq addressing a press conference. — Youtube@pakistancricket/FileLAHORE: The...
Mohammad Rizwan expressing gratitude after achieving a milestone during a match. — AFP/FileLAHORE: Mohammad Rizwan,...