Mbappé takes first step into club ownership when his company buys second-division French team Caen

Your support helps us to tell the story

Support Now

Find out moreClose

As your White House correspondent, I ask the tough questions and seek the answers that matter.

Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn't have the resources to challenge those in power.

Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election

Andrew Feinberg

White House Correspondent

French soccer great Kylian Mbappé took his first step into club ownership on Wednesday when his company completed a takeover of second-division team Caen.

Interconnected Ventures, a company founded by the Real Madrid striker, bought a majority stake in the French club based in Normandy through its investment arm, Coalition Capital.

“This transaction marks a significant step in the club’s strategic development and reinforces its natural ambition to remain among the historic (teams) in French soccer,” Caen said in a statement.

Coalition Capital replaces the previous majority shareholder, American investment fund Oaktree. Financial details of the transaction were not given by Caen, but reports said Coalition Capital purchased 80% of the club for 15 million euros ($16.3 million).

“As the main investor in this project, we are very enthusiastic about the idea of ​​continuing the development of Caen, with PAC Invest,” Interconnected Ventures CEO Ziad Hammoud said. “Our shared vision with the club of sporting excellence and community engagement are at the heart of our approach. We are determined to create an environment where young talents can flourish.”

Caen finished sixth in the second division last season.

Mbappé signed a five-year contract with Real Madrid in July after seven years with Paris Saint-Germain.

Mbappé scored in the final when France won the 2018 World Cup, and he scored a hat trick in the team's loss to Argentina in the 2022 final. He wore a protective mask at this year's European Championship after breaking his nose.

___

AP soccer: https://apnews.com/hub/soccer