L’Équipe report that Norodom Ravichak, the Cambodian prince who had submitted a bid to take ownership of Saint-Étienne, is set to announce his withdrawal in the coming days.
Ravichak is said to be growing wary of the project as a result of Les Verts’ poor start to the season – lying in 20th place – and the increase in fan violence this season.
The would-be investor is also hesitant after analysing the limited documents made available to him. KPMG, the audit firm in charge of finding takeover candidates, only partially gave him access to the club’s Data Room, a virtual database detailing the club’s financial health. The Anglo-Dutch company has harboured doubts with regard to the true source of the funds Ravichak has presented.
Co-president of ASSE Bernard Caïazzo travelled to the USA last week to speak with potential investors. Currently, the most advanced bid is that of businessman Olivier Markarian, while American investment fund Terrapin Partners remain vaguely in the race. Caïazzo is unwilling to sell to the former, as this would mean his definitive departure from the club.