May 22, 2020 / 11:14 AM / 15 days ago

Struggling Toulouse in takeover talks with RedBird Capital Partners - club

(Reuters) - The owner of relegated Ligue 1 club Toulouse is in talks with American investment firm RedBird Capital Partners to sell an 85% stake in the French side.

“I am convinced that RedBird Capital Partners has the skills and resources to help Toulouse Football Club return to the elite of French football,” Toulouse president and owner Olivier Sadran, who would retain a 15% stake, said in a club statement.

Toulouse were relegated to Ligue 2 after finishing bottom of the table when the Ligue 1 season was stopped last month amid the COVID-19 crisis.

“We confirm that we are in exclusive negotiations with Olivier Sadran as we look to acquire a majority stake in Toulouse Football Club,” RedBird Capital founder Gerry Cardinale was quoted as saying on the Toulouse website.

Reporting by Julien Pretot; Editing by Christian Radnedge

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