It feels like the end of an era. At the bottom of the Ligue 1 standings, Montpellier is seeking new investors to ensure its financial survival. Club president Laurent Nicollin has initiated the process of opening up the club’s capital: a turning point in the history of the institution founded by his father, Louis, in 1974. Until now owned solely by Groupe Nicollin, a waste management company, the southern French team embodies a species on the brink of extinction: family-run football clubs led by a prominent business leader with local roots.
In Ligue 1, only a handful of presidents still embody this type of locally rooted management, as opposed to being internationally oriented. Among them are the president of Reims, Jean-Pierre Caillot, who runs a transport company; the president of Brest, Denis Le Saint, who heads a fruit and vegetable distribution firm; and the owner of Angers, Saïd Chabane, who owns a charcuterie company. Nantes’ Waldemar Kita, a businessman who made his fortune in aesthetic medicine, could also be considered to belong to this group. These “dinosaurs” are trying to keep their clubs afloat by investing a significant portion of their personal wealth.
You have 77.37% of this article left to read. The rest is for subscribers only.
About The Author
