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Sale of Saint-Étienne delayed

L’Équipe report that KPMG, the audit cabinet in charge of handling the sale of Saint-Étienne, considers that none of the offers that have come in so far have been satisfactory.

As a result, the takeover process has been delayed, although it remains active. French businessman Olivier Markarian, whose bid was backed by a Swiss-based fund with Canadian and Chinese investors, with notably former midfielder Mathieu Bodmer the face of the project, has seen his application turned down.

The bid submitted by Cambodian prince Norodom Ravichak had been turned down last month, after KPMG accused him of using a false document as a bank guarantee – claims which he has since refuted, speaking to L’Équipe.

A statement released by the club’s shareholders has nevertheless assured that new candidates have already stepped forward with bids that correspond to KPMG’s criteria.

 

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