AS Saint-Étienne: "Kilmer Sports will have to invest a lot of money in the club" (B. Caïazzo)

"We sold our stake to a Ligue 2 club for a simple reason: Kilmer Sports is going to have to invest a lot of money in the club to make up for the deficit, and what's more at a time of great uncertainty over TV rights. Kilmer explained to us, quite rightly, that AS Saint-Étienne's employee burden structure was heavy and that it could not at the same time offset future deficits and pay shareholders very large sums," said Bernard Caïazzo, now former co-owner and chairman of the supervisory board at AS Saint-Étienne (promoted to Ligue 1 for 2024-25), to News Tank Football on 04/06/2024.

Bernard Caïazzo and Roland Romeyer, also a co-owner and until now chairman of AS Saint-Étienne's management board, sold all their shares to the Canadian group Kilmer Sports Ventures, which became the club's sole owner on 03/06/2024. This is a Canadian family group owned by billionaire Larry Tanenbaum and headed by Ivan Gazidis, former CEO of Arsenal FC (Premier League) and AC Milan (Serie A TIM), who becomes the new president of AS Saint-Étienne.

"It's clear that clubs that aren't lucky enough to have…