Standard is continuing its sales process. According to Sudinfo, the price hoped for by 777 would be set between 15 and 18 million euros, after having completed some financial operations which will allow things to be unblocked.
The process of selling Standard is continuing. Things are taking time, since A-Cap must now complete various formalities to separate from the Liège club. As a reminder, 777 Partners, which is looking to leave the ship, is no longer present on the board of directors, which was the first thing to do for the file to move forward quickly.
Other steps have also been taken, with the extension of Pierre Locht’s mandate and the establishment of an agreement with Bruno Venanzi on various repayments, although the part on the club’s real estate is still in the negotiation phase. An agreement has therefore been reached on the majority of these issues. They have also negotiated an agreement with Tifosy Capital, which had lent a fortune, 10 million euros, when Standard was bought by 777 Partners. The club still owed him 7.
According to Sudinfo, Standard is now on the verge of being able to speed up the procedure. To do this, they will go before a notary on October 5 to convert loans from 777 Partners into a capital increase. Loans that date from November 2023 and which were already justified in the form of a recapitalization. This would represent a total of 25 million euros. Once this is done, the club will fall into line with the licensing commission, but above all, the seizure of the club’s shares will be lifted. The sale can then be finalized.
More than 15 million euros
Sudinfo claims that this capital increase will make it possible to considerably reduce the level of short-term debt, which will still remain in the region of 15 to 20 million euros. An audit of the accounts will be carried out in December and will make it possible to define the real value of Standard and therefore its sale price.
Apparently, A-Cap is counting on an estimated price of between 15 and 18 million euros. The price will then be communicated to potential buyers, who will have to position themselves and begin concrete negotiations.
cork standard pro league
Related News :