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Nancy President Rousselot “worried” as talks with City Football Group over acquisition are suspended

Speaking in an interview with France Bleu Sud Lorraine, Ligue 2 AS Nancy club president Jacques Rousselot admitted his concern following a sudden suspension of negotiations between his outfit and City Football Group, over the club’s acquisition, which had been at a very advanced stage.

“I am worried. I am on the frontlines. It was supposed to be done on March 31st. I had informed the smaller shareholders. The general assembly was due to occur at the end of March for the deal to be closed. We have been in quarantine since 16th March and the negotiations have been suspended. That does not mean that they have been stopped. This is not the end of the road. I will have to continue to look for resources, ways to find solutions to assure that the club can function.”

City Football Group have this Saturday evening spoken to L’Équipe about why they hit the brakes on the acquisition:

“We still want to acquire AS Nancy Lorraine. We are facing a global crisis. There are aspects today that we are not in control of. But we have not changed direction.”

All of the due diligence on City Football Group’s end has already been done and an agreement worth €14m had been reached between the buyers and sellers.

The future possible owners continued to make visits to Nancy in the week of the 20th March. And press conference to make the sale official was due to occur in April. Based on the above quote from the City Football Group, it seems unlikely that any sale will go through quickly. City Football Group representatives are insisting that their focus at the moment is to deal with all the health problems and football getting back underway.

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