Historic French club Saint-Etienne said Monday they were in exclusive talks for a sale to the owner of the NBA's Toronto Raptors and the NHL's Toronto Maple Leafs.
The buyout of the 1976 European Cup finalist by Larry Tanenbaum's Kilmer Group should be ratified within weeks, the club said in a statement four days before a key end-of-season match in its push for promotion from new to top-level Ligue 1. .
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“I know what Saint-Etienne represents for its community and for French football,” Tanenbaum said in the statement, calling the central France club “the beating heart of a city and its region.”
Saint-Etienne is a ten-time French champion, although not since 1981, when its star player was French great Michel Platini. Its stadium with a capacity for 41,000 spectators is one of the venues for the men's and women's soccer tournaments of the Paris Olympic Games.
The pending deal was announced as Saint-Etienne prepares to finish the second division regular season needing a win at Quevilly on Friday to stay in contention for second place.
Saint-Etienne, which was relegated two years ago, is assured of at least third place and entry to a promotion playoff group in which four teams will participate.
The club said it wanted to “ensure an ambitious future” with a new owner who was “trustworthy, experienced and financially sound”.
Tanenbaum is the president and CEO of Kilmer Group and chairman of the board of directors of Maple Leaf Sports and Entertainment, owner of the Raptors and Maple Leafs. Kilmer will also reportedly be given a franchise in Toronto for a WNBA team.
Saint-Etienne says the deal for Kilmer was being negotiated by Ivan Gazidis, former Arsenal and Inter Milan chief executive.
Information from The Associated Press was used in this article.
