Stade Francais Threatened With Relegation

[Gavin]

http://www.planetrugby.com/story/0,25883,16024_6960874,00.html

Parisian giants Stade Français have until Wednesday to provide French authorities with new financial guarantees or face relegation from the Top 14.


With a hole of nearly six million Euros in their budget, Max Guazzini's club must now convince the League's financial watchdog, the Direction Nationale d'Aide et de Contrôle de Gestion (DNACG), that they have the funds to compete in France's top division.

The thirteen-time French champions are basing their hopes on a Canadian investor - the Fadesm Corporation - brought on board by former France coach and Secretary of Sport Bernard Laporte.

Since the new investors are based in Montreal, the process has been delayed by the need to create a company in France from where the funds can be transferred.

Having already been given an extension by the DNACG - much to the irritation of other clubs who where not shown the same leniency - this is Stade Français's last of chance of avoiding the axe.

Bloody 'ell

 

[TRF_Olyy]

uh oh!
Wonder how many of the big names would stick around if that were to happen

 

[TRF_Cymro]

Would they really make an example of Stade? Be amazing if they did.

 

[lucky number 7]

This would be bad...quite bad ..

 

[Amobokoboko]

I hope SF sort out their stuff.

 

[Gavin]

They have a rule, if they make an exception for such a historic team as Stade just think of all the dirt that would be kicked up by the other clubs.

 

[Feicarsinn]

The dangers of competing in a money crazy, non salary capped league. Someone was always going to take a fall eventually.

 

[DonBilly]

The dangers of competing in a money crazy, non salary capped league. Someone was always going to take a fall eventually.

Don't be too hasty in raising conclusions. First there's a salary cap and next Stade Français salaries are not the highest of Top14. The main issue of le Stade is the default of Sportis the company that had all the sponsorship and commercial contracts for le Stade Français, they owe them more than 5 Mâ'¬

 

[Rennison123]

Well i've not heard that they went down, maybe the canadian business man helped them out. Stade have now been in this position twice now, how much more can they take last year £2.5m this year £6m. More cut backs i guess. Paul Sackey must have been cheap.

Since Racing got promoted Stade have been in decline. What are Racing doing to get Stades money i wonder?

 

[TRF_Cymro]

Stade Francais beat the drop

 

[Gavin]

http://www.planetrugby.com/story/0,25883,16024_7000466,00.html

Stade Français are once again facing the threat of relegation after it was revealed that the ailing French giants are suing their so-called benefactors for fraud.

Stade Français's future was plunged into further doubt this week after it was announced that the club are suing the Canadian foundation FACEM after they failed to produce the 12million Euros they had promised to invest in the club.

Director Bernard Laporte, formerly also coach of the French national side and then Secretary of State for Sports from 2007-09, had announced with some fanfare earlier this month he had persuaded FACEM to invest the 12million euros which would pay off the club's debt and save it from relegation owing to its parlous finances. However, a source close to the judicial inquiry confirmed to AFP that Laporte had made a formal complaint on Monday or Tuesday to the under-secretariat of the fraud office.
According to reports in the French press the Canadians had not come up with the money by Monday evening, which precipitated Laporte's complaint.
Stade Français also announced that club president Max Guazzini was taking legal action. "In both his role as President of Stade Français and on a personal note, he has made a formal complaint against X in Paris for fraud," read a statement from the club. "In fact, after an enquiry made last weekend, it appeared that the documents and guarantees furnished by the FACEM Corporation, rubber stamped by a major international bank, were false. "The FACEM Corporation, via the Rugby Developments Society, committed themselves to take a majority shareholding in Stade Français Paris by increasing its capital by 12million Euros. "It was only at a meeting yesterday (Monday) afternoon, at the headquarters of this bank that Stade Français Paris had confirmation of this fraud in which it is the victim."
The 12million euros would have represented a 66percent stakeholding in the club.
Without that cash injection Stade would face almost certain relegation as they have accumulated debts of 5million euros - mainly because of the failure of the advertising company Sportys. Their financial health will now be re-examined by the Rugby National League's financial committee on June 27. "Since last night (Monday) a new round of talks has been opened so as to ensure the the future and the long term health of the club," Stade announced in a statement.
Laporte, who guided France to two successive World Cup semi-finals in 2003 and 2007, has a strong attachment to the club. Having been lured there by flamboyant owner Guazzini he took them from the third division to the first before winning the championship in 1998.
Financed by radio mogul Guazzini's money they went on to win another four national ***les in the next decade and reach the European Cup final twice.
However, success on the pitch has disappeared since their last ***le in 2007, failing to reach the Top 14 play-offs the past two seasons - though they lost to English side Harlequins in the final minutes of the European Challenge Cup final last term.
They sought to reduce their huge wage bill as soon as the season ended. England flanker James Haskell was the highest profile name to be cut from the roster. He was joined on the departures list by Ollie Phillips, Hugo Southwell, Arnaud Marchois, Noel Oelschig, Juan Leguizamon and Mauro Bergamasco. On the flip side, however, they have been shopping around for new blood, albeit largely in the shape of former stars past their prime. Twelve new arrivals have been announced, among them the former All Black scrum-half Byron Kelleher from Toulouse, Australian fly-half Paul Warwick from Munster as well as the Toulon pair Felipe Contepomi and Paul Sackey.

Uh-Oh spaghetti o

 

[TRF_Olyy]

I think I read that they've got until the 27th (5 days) to get it all sorted before they get proper-f**ked by whoever's in charge of the Top 14

 

[psychic duck]

i'll miss Stade if they go, but then people probably said the same with Richmond before and then just got used to it

but Stade have been around the top teams in Europe ever since I started watching rugby, around about 2000/01, be strange without them and their crazy kits

 

[Amobokoboko]

Basic economics: we need to cut down costs to find 12 million. We sack our international stars and we buy even more (inter) national stars.
I reckon they will be safe but they do need to sort out their finances.

 

[TRF_Cymro]

Three arrested in Stade Français saga

 

[munstermuffin]

Any chance Warwick will be returned safely to us
And throw in Parisse too and we'll forgive

 

[TRF_Cymro]

French government will not bail Stade out

 

[TRF_Olyy]

Not looking good at all...
Three days and counting

If they got relegated, how many players would have a clause in their contract saying they could leave? I'd imagine the majority would, given a choice, but how many would've thought to include it? I mean, they haven't really looked like going down, so it wouldn't have crossed most peoples minds

 

[TRF_Cymro]

Banks don't work on Sunday's either

 

[Melhor Time]

I´m really scared now, seriously. If I win the lottery tommorrow I´ll buy the club - thats a promise! The lottery here in Brazil will be over BR$80 million which is about US$48 I think.

Not looking good at all...
Three days and counting

If they got relegated, how many players would have a clause in their contract saying they could leave? I'd imagine the majority would, given a choice, but how many would've thought to include it? I mean, they haven't really looked like going down, so it wouldn't have crossed most peoples minds

All players will be free to go. Same thing that happened to Byron Kelleher after he had signed for Agen in 2007 but they were relgated so Toulouse picked him up. Same thing with Montauban too last season.

Toulouse have already said they´ll sign Dimitri Szarewski is SF drop. Lyon will go for a few of them - Pape and maybe Contepomi. Toulon will get Bastareaud of course.