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American Businessman Frank McCourt To Purchase Olympique De Marseille For $56M

Former L.A. Dodgers Owner Frank McCourt and Olympique de Marseille Owner Margarita Louis-Dreyfus have entered into exclusive discussions for the acquisition of the football club by McCourt. Details of the transaction were not disclosed. The objective is to complete the transaction before the end of the year, after consultation of the works council of Olympique de Marseille. Working with McCourt throughout the process have been Jacques-Henri Eyraud, a media and sports business entrepreneur; and Poulmaire-Avocat & Fiduciaire, a law firm specializing in club restructuring and financing and the management of rights within the sports and entertainment industries; the law firm Sullivan & Cromwell LLP and a number of other France-based advisers (OM). LA PROVENCE reported as expected, the Louis-Dreyfus family will "remain OM shareholders after the purchase of the club is finalized." During a press conference in Marseille, Louis-Dreyfus said, "I am sad for us, especially for my son. It's for him that I saved 5% (of her share in the club)" (LA PROVENCE, 8/29). In London, Adam Thomson reported sources close to the talks said that McCourt "agreed to pay" about €50M ($56M) for the club. The sources added that Louis-Dreyfus was "determined to look for a long-term investor to safeguard the club's best interests." The talks "come on the back of mounting international interest in France’s domestic football clubs" after Qatari investors acquired Paris St. Germain in '11. Chinese and Russian investors have "also sunk money into other clubs." Earlier this year, a Chinese and U.S. consortium acquired 80% of OGC Nice (FINANCIAL TIMES, 8/29).


MCCOURT INTERVIEW: In Marseille, Alexandre Jacquin reported the former Dodgers owner, who sold the team in '12 for $2.15B, spoke with La Provence. Excerpts from the interview are below.

Q: How far along are the negotiations?
Frank McCourt: We announced an agreement and as always in these cases, a works committee will meet. It will have to give its opinion. The tribunal period could last several weeks to several months. It will only be when the works committee gives its opinion that the sale will be final. But the agreement announced [Monday] is a firm and definitive agreement. We entered an exclusive process that must lead to an acquisition. 

Q: Why did you want to invest in OM?
McCourt: I am a sports lover and I think that one of the best brands in the world in this domain is Olympique de Marseille. It will take work, but I think that we will be able to obtain exceptional results with this brand and this team. 

Q: How long ago did you start the process to purchase the club? 
McCourt: I started to think about it and have discussions with my team about it two years ago. It's only been three months since we entered into the acquisition process.

Q: How much did the OM purchase cost?
McCourt: I cannot comment on that point.

Q: What is your plan?
McCourt: It is called "OM Champion." There will be four strategic objectives. The first is to build a team that, regularly, year after year, fights to win the French championship. The second concerns the supporters: we want to provide the best environment available in Ligue 1 and the best possible experience during matches. The third deals with everything involving the Marseille community, how the club fits. I am very committed to creating a new relationship with all of the stakeholders. The last will be to build a solid organization, perennially, on the pitch and off (LA PROVENCE, 8/29).

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