Kita signs agreement in principle to sell FC Nantes as relief meets doubt | OneFootball

According to Le Progres, Waldemar Kita signed an agreement in principle on Tuesday to sell FC Nantes to European investors led by Paulo Tavares, drawing a possible close to his 19 years in charge.

The document opens exclusive talks with Phenix Sports Invest, Tavares's firm. The fee is expected to exceed 100 million euros, and around 30 million euros has reportedly been set aside as a guarantee before DNCG scrutiny.

Kita, president-owner since 2007, has appeared weary amid constant churn on the bench, 24 coaches in 19 years including Michel Der Zakarian for three Ligue 2 matchdays. Despite winning the Coupe de France in 2022, Nantes slid to relegation this summer.

Backed by French, Portuguese and Luxembourg investors, Tavares's group could pay up to 125 million euros with bonuses for a club bought for 10 million in 2007. In 2019 LFE Footbal Group Limited was rejected by the DNCG despite a deal with the Kita family.

The valuation raises questions for a Ligue 2 side not pointing to an immediate return. Nantes owns neither its stadium nor its training centre, both need investment, and the wider French game has been hit by falling TV rights.

Tavares, 62, is a long-time intermediary whose name appeared in Football Leaks, and he was linked to the Neuchâtel Xamax collapse. He has promoted this project with ambassadors, and a claimed warm welcome from the city was disputed by the mayor. For many fans, relief at a possible Kita exit is tempered by doubt.

Source: Le Progres

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