RedBird Capital has agreed to acquire a majority stake in Toulouse Football Club, a French professional football club. No financial terms were disclosed. As a result of the deal, Olivier Sadran, owner of Toulouse FC, has stepped down from his role as majority owner and president; however, he will retain a 15 percent stake in the club and remain on the board of directors. Damien Comolli has been named president of Toulouse FC, effective immediately.
TOULOUSE, FRANCE – July 20, 2020 – Toulouse Football Club (“Toulouse FC” or the “Club”) and Club owner Olivier Sadran have entered into a definitive agreement with RedBird Capital Partners (“RedBird”) to sell a 85% majority stake in the Club. Effective today, Mr. Sadran has stepped down from his current role as majority owner and President, though will retain a 15% stake in the Club and remain an active member of the Board of Directors.
“We are proud and excited to help write the next chapter of Toulouse FC and realize its tremendous potential,” said Gerry Cardinale, Founder and Managing Partner of RedBird Capital Partners. “We are committed to building a sustainable, long-term foundation for the Club’s success by enhancing its on-field sporting performance, business operations and contributions to its community. We look forward to working closely with Olivier, the City of Toulouse and the Occitanie Region to return Toulouse FC to an elite level and elevate the entire city of Toulouse through its long-term success.”
Also announced today is the appointment of Damien Comolli as President of Toulouse FC, effective immediately. Mr. Comolli has had a successful career in several senior management roles at various clubs and leagues throughout Europe, including Arsenal, Tottenham Hotspur, Liverpool, Fenerbahçe and Saint-Étienne. In his new general management role at Toulouse FC, Damien will oversee the overall management of the club, including all sporting activities.
Olivier Sadran commented, “I welcome Gerry and RedBird as new partners in an organization and a city that are big parts of my life. I am also pleased that RedBird has brought Damien to Toulouse as a key member of our leadership team. Damien is a well-respected colleague in the Football world. After getting to know Gerry, Damien and the team at RedBird, I am confident that together we have the energy, expertise and resources to take the Club to the next level. I look forward to working alongside them and sharing the pleasure of winning.”
Damien Comolli added, “I am thrilled and honored to lead Toulouse FC as its new President. Toulouse is an extraordinary city with a football club that has the opportunity and ability to succeed. We recognize the unique talent this city has and plan to commit continued focus towards youth development throughout the region. The Club has great potential and I am looking forward to working with our players, staff and RedBird to execute upon our plan to build a stronger future for the Club.”
RedBird’s investment partners have included the New York Yankees, the National Football League (“NFL”), the Dallas Cowboys, and multiple Players Associations across the NFL, Major League Baseball, Major League Soccer, United States Women’s National Soccer Team and Women’s National Basketball Association.
About RedBird Capital Partners
RedBird is a principal investment firm which provides flexible, long-term capital to help entrepreneurs grow their businesses. RedBird seeks investment opportunities in growth-oriented private companies where its long-term capital, investor network and strategic relationships enable business owners to achieve their corporate objectives. Founded by Gerald Cardinale, RedBird has over $4 billion of equity under management to support its entrepreneur-led platforms, connecting patient, flexible capital with business founders to help them outperform operationally, financially and strategically.
For more information, please go to www.redbirdcap.com.