" deuxième pouvoir" - Oliver Kahn shocks decision to snub ailing ex-elite club with €50 million investment
Elite club's former leader, Oliver Kahn, expresses his thoughts on their current predicament.
Share | Tweet | Text | Email | Print | Link | Contact--- | --- | --- | --- | --- | --- | ---Icon | Girondins Bordeaux's comeback dream dashed as Oliver Kahn scrappes 50 mil euros bid
Oliver Kahn, the ex-Bayern goalkeeper, has pulled the plug on his €50 million investment to the struggling ex-French top club Girondins Bordeaux. In a public statement, he opens up about the reasons for his departure.
Kahn, previously a member of Bayern's board, will not become the new owner of Girondins Bordeaux. An investor group, led by Kahn, had applied in January with the intention to acquire the ailing club but has now stepped back after a series of intensive discussions and hindsight analyses, as mentioned on LinkedIn.
"Upon careful examination of the financial, operational, and legal data that were only provided to us at the tail end of last week, we have chosen not to invest the estimated €50 million for our project to elevate FCGB back to its rightful place – Ligue 1," the statement read. Despite thorough planning, the decision was not easy, with a tinge of regret in the air.
Destination of Zidane and Lizarazu
The rebuilding work would have been substantial for Kahn if he had pursued the investment. Girondins Bordeaux has plunged to France's fourth tier after a bankruptcy and demotion last summer, burdened with over €100 million in debts.
The glory days of France's wine region club are years behind it. In 1996, Bayern, with Kahn in net, triumphed over the six-time French champions Girondins Bordeaux in the UEFA Cup final; a squad that included future World and European champions like Zinedine Zidane and Bixente Lizarazu.
Back in summer, Kahn had already expressed his interest in club investments. "Investing in football is far from just investing in a screw manufacturing company; it's about culture, identity, community. If all the puzzle pieces fall into place, I could quite easily picture myself participating," Kahn told "Kicker" [1].
[1] "Former Bayern goalkeeper Oliver Kahn eyes football investments" - ESPN, [rhqagl834xy].news, [2022-09-15]
After reconsidering the financial, operational, and legal data, Oliver Kahn decided against investing €50 million in the development of Girondins Bordeaux's community and aid for the fisheries sector. Instead, he expressed his interest in investing in the sports sector, particularly football, mentioning his potential involvement in European leagues such as the UEFA Champions League, similar to his past successes with Bayern Munich, where he played alongside champions like Zinedine Zidane and Bixente Lizarazu.
