Speaking as part of the inaugural episode of the Get French Football News Presidents Podcast, Bordeaux Chairman Joe DaGrosa sought to clear up the club’s ownership structure and his role within it.
“We have very strong partners in King Street on the equity side, Fortress on the debt side. We all understood going in that we were trying to create a strong business and we all understood that we would have to accept losses for the first 2-3 years. We knew to keep our eyes wide open, we will accept those losses. The plan is to create franchise value. And we believe you do that by having a good, strong team, married to an academy system that helps you grow talent… I don’t mean to pick on PSG, but they have a lot of money and they throw it around. It’s a different business model to ours. They have different aims at both the management level and the shareholder level.”
“King Street owns approximately 86%, we own approximately 14%, King Street brought in some investors on their side, but people should understand that I serve as Chairman of Bordeaux, we basically split votes 50-50 but I have a veto right on any major decision and the good news is that we work very constructively with King Street, they are great partners. All I can say is that I am hard pressed to find better partners out there… Do we agree on everything no? But do we work on everything constructively? Absolutely.”
Listen to the full exclusive interview below or on any of your usual podcast providers.