By assuring, at the microphone of the Tunisian radio Shems FM, that alongside Mourad Boudejellal, he was “under discussion” for “a serious offer” to buy Olympique de Marseille, the Franco businessman -Tunisian Mohamed Ayachi Ajroudi has, Sunday, brought a new episode to a serial far from being finished. However, the day before, the current president of OM Jacques-Henri Eyraud had affirmed that the club “was not for sale. “
This Monday, on RMC, Mourad Boudjellal, who would become president of the club in the event of a takeover, replied: “Without disrespecting President Eyraud, if my investors were to buy OM, the check will not be made out to ‘Eyraud. Before indicating that a letter of intent was going to be sent this week. “But we’re not going to make the mistake of putting an amount on it,” he said.
Since Friday, however, it is an offer of 700 million euros (M €), with Saudi funds, which is in question. It would break down as follows: € 300 million for the buyout, € 200 million for debt recovery and around € 220 million in transfers. This last figure inevitably caught the attention of Marseille supporters. However, is it reasonable to consider it when the rules of financial fair play (FPF) would immediately hover over OM?
“A reasoned investment” and “a constrained framework”
“In fact, the shareholder could decide to do anything and everything,” says Christophe Lepetit, economist at the CDES (Center for Sports Law and Economics) in Limoges. He could quite decide to put 200, 500 million or a billion euros on the table to build a dream team and win the title of champion of France. But, on the other hand, it would be effectively annoyed, at a given moment, vis-à-vis the financial fair play which does not allow, let us recall, to make losses beyond 30 M € accumulated over three financial years. “
How could the Marseille of Mourad Boudjellal then go about it to exist during the transfer window? Christophe Lepetit believes that it would be “possible to depart from these rules”. “When a new shareholder arrives, we know that UEFA has the possibility of giving it a little time to precisely meet the requirements of the FPF,” he explains. And often she signs settlement agreements. It had already done so with OM and PSG precisely because it allows new shareholders to overinvest a little at the start and come back anyway, gradually, to balance. “
Be careful not to do anything. Christophe Lepetit evokes “a reasoned investment” and “a constrained framework”. In the eyes of the economist, the fact that OM is currently currently subject to a sanction – fine of € 3 million – for non-compliance with the FPF, would not necessarily have consequences. “As it stands, the club is no longer able to sign a settlement agreement as it did in June 2019,” he said. But the authority of financial fair play could be tempted to assess the case precisely in view of the fact that these are new shareholders who have an investment project, restructuring the club. “
“Everyone is in their role”
The sum of 200 M € mentioned for the next transfer window – and spent by Frank McCourt since 2016 – would it be reasonable or already excessive? “We have to put things in context,” says Christophe Lepetit. With 200 M € of investment today, we do not build a team studded with stars. We don’t recruit the best of the best either. A player like Kylian Mbappé, would be worth alone, in a normal market, 250 to 300 M €. “
In the meantime, each part of the Marseille Olympic file will continue to advance its pawns. “Everyone is in their role,” says Lepetit. The shareholder (NDLR : Frank McCourt) because either his club is not for sale, or he is and he doesn’t want to write down the value. The buyer also saying that his offer is credible and that the file is advancing, because even if the club is not for sale nothing prevents anyone from making a buyout offer to a club owner, free to him to accept it or not. “
We will probably have to wait a little longer before seeing more clearly. “These are still processes that take a little time, insists Christophe Lepetit. We are on large amounts and things a little touchy geopolitically with a club owned by an American who would potentially sell to supposed Saudi investors. Lots of parameters make it a sensitive issue in many ways. We’ll see where it takes us in the coming weeks. “
