For the past few months, it has been said that the Girondins de Bordeaux could obtain exploitation of the Matmut Atlantique. However, at present, no official steps have been taken by Bordeaux leaders to buy the stadium.
The new mayor of Bordeaux, Pierre Hurmic, said he was in favor of the sale of the stadium to the club. In the event of a takeover of the stadium by the club, what should the club do and how much could this operation cost the Girondins?
End of public-private partnership
Today, a partnership links the Metropolis and the owner of the stadium, the company SBA (Stade Bordeaux Atlantique). Under the current contract, the Metropolis pays SBA royalties and tax refunds of up to 11.1 million euros per year. Conversely, SBA pays 4.5 million euros in revenue and a variable portion. This represents 60% of the profits made above these 4.5 million euros.
The Girondins club pays the Métropole rent of € 3.85 million per year. Since the farm has been in deficit so far, the cost is € 2.8 million per year for the Métropole. According to the Court of Auditors’ 2016 report, the final cost of construction, including loan interest, amounted to 221 million euros.
In order for the stadium to be sold, the city must first be prepared for it. If the stadium is sold to the Girondins, the community will have to pay compensation to Vinci and Fayat, shareholder of SBA.
An expensive operation
The mayor of Bordeaux, Pierre Hurmic declared in the columns of the team: “To my knowledge, SBA loses money every year. They may be happy that a solution is found for them. ” King Street may therefore be interested in buying the stadium. The mayor of Bordeaux wants this operation to succeed to disengage the community from the fallout from the football business.
However, King Street already shows a deficit of 30M € at the end of the 2019-2020 season. According to the Team, the entire operation, including the purchase of the stadium and the amount to be reimbursed to SBA, the American investment fund will have to pay out in the € 260M if it wishes to acquire the stadium. The new mayor of Bordeaux will soon have the opportunity to discuss the subject with King Street. An appointment should arrive soon.
Not on the agenda
At present, it is therefore unlikely that the Girondins will initiate such an operation. “Unlocking contracts would be very expensive, several tens of millions of euros, for the community. We are not buyers of the stadium, “declared Frédéric Longuépée yesterday in the daily newspaper Sud Ouest.
In the end, the purchase of the stadium, by King Street, could be an interesting asset for a potential resale of the club. Indeed, the price of the club would increase considerably if the stadium were included with (Editor’s note about 300M €).
In the end, it is today unlikely that King Street will pay the 260M € estimated necessary to acquire the stadium.
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