Former LFP director general, Didier Quillot, has been hired to find foreign investors for third tier side FC Versailles, according to Le Parisien.
The Championnat National side has been experiencing financial difficulties due to the struggles of its main sponsor, City SAS. The two main shareholders of FC Versailles, Christophe Petit and Julien Ridon, who are both part of City’s SAS (Société par Actions Simplifiées), have financed the club alone with a hefty budget estimated at €6.5m this season.
It is believed that City’s financial problems have impacted FC Versailles, with some sources suggesting losses of several million euros and even the possibility of bankruptcy. After earning promotion from the fourth tier, the club went on a spending spree to assemble a squad capable of reaching Ligue 2 at the first attempt, even managing to sign former dutch international Jeremain Lens.
The club’s leadership has reportedly been managing to pay players on time and has reduced administrative staff to a minimum. However, delays in payments in rent for the Jean-Bouin stadium (located opposite the Parc des Princes) as well as for team’s hotel stays have started recently appearing.
Quillot himself has been tasked with finding foreign investors to provide fresh capital. Negotiations are already underway with the Binnie family, founders of investment firm Carlisle Capital, who have previously attempted to purchase English football club Derby County.
If promoted to Ligue 2 this season, there are several options for the club, including remaining with the current shareholders, finding new partners, or selling the club.
In the long term, the club is reportedly considering training at Bougival, replacing PSG’s women’s team, setting up an academy at the Porchefontaine stadium, where the senior team currently trains, and playing at the Parc des Princes if PSG leave for the Stade de France in the future.
Alternatively, the club could also reportedly plan to build a 20,000-seat stadium in a location to be determined. New partners could reportedly invest by purchasing shares to increase the club’s capital by €5 million, followed by an additional €10 million before any promotion to Ligue 1.
Versailles are still well in the running for promotion to Ligue 2 this season, and play tomorrow in a crucial Paris region derby against Red Star FC. Brazilian manager Cris’s side sit level on points with Red Star, managed by former Newcastle and Marseille defender Habib Beye. A win for either side keeps hope of promotion alive in a league with only two promotions spots and no play-off places this season.
GFFN | George Boxall
