Elan Béarnais: the boss of CSG says he is "open to discussion, to sell"

Elan Béarnais: the boss of CSG says he is “open to discussion, to sell”

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David Otto, CEO of Counterpointe Sport Group (CSG), owner of the Elan: “Yes, that’s the idea although we haven’t made the final decision yet. And we still have ten days to do it.

What do you think motivated this new refusal from the LNB?

On Monday we have…

David Otto, CEO of Counterpointe Sport Group (CSG), owner of the Elan: “Yes, that’s the idea although we haven’t made the final decision yet. And we still have ten days to do it.

What do you think motivated this new refusal from the LNB?

On Monday, we showed the LNB a breakdown of approximately 1.9 million euros in capital and guarantees. But the League has not changed its mind. They seem to be concerned about the budget, in which we could not include the subsidy from the City of Pau (Editor’s note: it is actually the Agglo), because the City has not voted again for the subsidy for next season. It creates a big hole in our budget, our project relies on these funds. it thwarts our financial projections.

What are your relations with the City and Agglo de Pau?

We disagree, not at war. We are currently preparing a letter to the City, to tell them that it is really not appropriate to withdraw this subsidy. And we are concerned because there has been a lot of interference, damaging CSG and its business. Going to court is not our preferred route but we believe there have been issues leading to legal complaints. It is still confidential but several parties have already received the draft of a potential complaint, which we sent to them yesterday.

The agglomeration of Pau is still waiting for you to pay it 600,000 euros for the redemption of its shares in the SASP Elan Béarnais…

It’s true, we didn’t pay. The reason is that we had to deal with other liabilities during the year that had not been revealed about the club at the time of our acquisition. Consequently, we reconsidered the purchase price and entered into discussions with the City. It was an adjustment.

Would CSG be ready to continue the adventure with a club relegated to the lower division, to National 1? Because that’s what will happen if you appeal but do not provide new financial guarantees…

We would like to continue the adventure with the Elan Béarnais, but the problem comes from the lack of support, from the local population, from the sponsors, from the City. There is a lot of negativity towards CSG, it makes any deal particularly difficult. Especially since our model requires commitment and trust from sponsors and supporters. I don’t think it’s a cultural issue. On the sporting level, the team has achieved some very good things. But it was on the financial level that things turned out to be complicated because we inherited a very confused situation. After a year of supervision and management, the situation was more or less under control, it needed a little more time and a little more money. But for the LNB, it seems above all to be a question of guarantees to be provided.

Would you like, as the mayor of Pau calls for, that a buyer comes forward to take the reins of the club, in your place?

We don’t want that. But if there are buyers and they want to talk to us about a buyout, we will talk. But so far no one has contacted me. Absolutely nobody.

If any were to arise, would your position be to get rid of the club and its debts?

There are debts, but they are manageable… What we need are enthusiastic, committed people who believe in our project.

Have you set a resale price to potential buyers?

Not yet, but I can tell you that CSG is so far the biggest private investor this club has ever seen. No one has ever put so much money into this team. Almost a million euros. Not to mention the additional costs.

Could you sell the club to a buyer within the next 10 days?

If a transaction is feasible in ten days? Yes, easily, one day is enough to complete these papers. And we are open to discussion, to sell.”

The editorial staff advises you

The editorial staff advises you

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