Toulouse President Sadran hoping for sale to RedBird Capital Partners to go through by 15th July

In an email written to a club sponsor obtained by L’Équipe, Toulouse President Olivier Sadran revealed that he is seeking for the club’s sale to American fund RedBird Capital Partners to be completed “before the 15th July.”

“In the weeks to come, and I hope before 15th July 2020, we will have finalised the agreement that will allow our club, I am certain, to kickstart on the right foot and in a new era to put us on the path to success.”

Sadran added that he has been in contact “over the last six months” with the likely buyer of an 85% stake in the club. Sadran will retain a minority stake.

“As the majority shareholder of Toulouse, I very clearly carry total responsibility for this mess, [I was] probably monopolised by my job, but also I imagined that it was enough to ensure good financial continuity for everything to go smoothly.”

Sadran is the head of Newrest, an industrial food services group.

More European Football News