’I love sport and money:’ Saudi tycoon to buy French club

’I love sport and money:’ Saudi tycoon to buy French club
’I love sport and money:’ Saudi tycoon to buy French club

Thank you for reading the news about ’I love sport and money:’ Saudi tycoon to buy French club and now with the details

Jeddah - Yasmine El Tohamy - NICOSIA: A self-confessed lover of “sport and money,” Saudi Prince Abdullah bin Mosaad is about to become the owner of humble French second division club Chateauroux.
Already the owner of Premier League strugglers Sheffield United, Beerschot in Belgium, India’s Kerala United and Al Hilal United in the UAE, the 56-year-old will soon have a new team in his portfolio.
“We have been interested in Chateauroux for some time, and negotiations have taken a long time,” Prince Abdullah told AFP in a Zoom interview.
“The club’s position in the second division table is now very difficult, but I am optimistic about its future.”
Chateauroux are currently bottom of the French second division with just four wins all season in 28 games.
The third division is beckoning.
The prince  has given the green light for the purchase of the club to his company United World.
“I love sport and money,” added the man whose personal fortune is estimated at €200 million ($240 million).
“When I invested in England and Belgium, I was happy. But for France, I have a special feeling because it’s a country that reminds me of childhood.
“My memories are numerous and my brother (the prince) Abdulrahman was born there.
“I know that Chateauroux is not far from Paris (about 270 kilometers), another reason to please me when I am in France, besides the restaurants, the cafes and walks in beautiful Paris.”
He added: “Under normal circumstances, I would visit the club (at the time of acquisition), especially since I really like France, but because of the travel conditions, I can’t go.”
United World’s chief executive Abdallah Al-Ghamdi “saw the last game and reached an agreement with club officials and the board of directors,” Abdullah said.
French media have estimated that the Chateauroux club will be bought for around €2.8 million, a bargain basement price in global football economics.
“I think the amount is higher but I do not want to divulge it,” said Abdullah of a club staring at relegation after four seasons in the second tier.
Chateauroux has only spent one season in the French top flight, in 1997/1998 but they did reach the French Cup final in 2004 where they lost 1-0 to Paris Saint Germain.
“When we buy a club, we have several objectives,” added Abdullah.
“To raise the level of the club, the facilities and the level of the team. The most important thing is to do it over time.
“I’m happy that we own clubs from three of the four countries that reached the last semifinals of the World Cup — England, Belgium and France.”
The prince said he has followed French football closely over the years, citing Michel Platini as his idol.
“I remember the French team of Platini, Giresse, Tigana and Rocheteau. When I was young, Platini was my favorite player when he was playing in Italy with Juventus.”
So, after buying Chateauroux, what next?
“We will now stop investing for about a year, to consolidate our clubs. Managing a club is not easy. We do not want to expand beyond our human potential.”
 

These were the details of the news ’I love sport and money:’ Saudi tycoon to buy French club for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Saudi fashion sector on course to hit Vision 2030 targets, princess tells summit