Yes, because of the strategic error of 2018
“If AS Saint-Etienne was forced to sell Wesley Fofana to Leicester (€ 35m + € 5m) in order to ensure its financial sustainability, it is firstly due to pressure from the banks … And because of an error in judgment that dates from two years ago. At the time, to satisfy Jean-Louis Gasset, eager to build a team to aim for the Top 5, the management played on its image as a well-managed club to seek bank loans. Loans which were not intended to invest in the stone and in the development of the club but to “play in the casino” on the Mercato.
However, we cannot frankly say that ASSE played its jackpot very intelligently because, rather than betting on young people with high potential, Jean-Louis Gasset had gone to seek senators for short-term objectives. Objective he achieved but without worrying about the future fallout. Fallout difficult to manage for Claude Puel today.
By recovering 20 M € payable by the 2020 deadline, the Saint-Etienne management then thought (in 2018) to be able to quietly repay thanks to the windfall of TV rights carried by Mediapro. Except that the two-headed presidency could not predict the Covid-19 crisis and the disastrous 2019-20 fiscal year. Exercise which forced the club to seek a new loan, guaranteed by the State this time, to absorb the losses and finish in the green for a 10th consecutive season. Except that it was no longer € 20 million that the Greens now owe bankers, but much more. The sales of players are also and above all for that: there are large credits to repay (with interest as a bonus). “
Alexandre CORBOZ
Finances weighed down by flops
“ASSE has lived beyond its means. She borrowed to recruit the Subotic, M’Vila, Debuchy, Cabella, Khazri, with their salaries of internationals or former internationals. But what she is paying cash today are her many flops when it comes to recruiting. A Diony recruited for 7 M € at the very least and who leaves for 0 € in Angers, a Diousse bought 5 M € in Empoli and that the Greens lend to the right and to the left. Dabo, Lacroix, Katranis, we go by and the worst: all this has a blow. And the bill, the club pays her today by having to sell the family jewels. Which does not date from today, moreover.
In another century, ASSE had to sell Coupet and Sagnol so as not to go out of business. There was the transfer of Gomis to Lyon in 2009, then those of Guilavogui, Ghoulam and Zouma. And those, too, of Saint-Maximin and Pierre-Gabriel. Apart from Aubameyang, Gradel, Malcuit, Selnaes and Cabella, ASSE is unable to make capital gains on its recruits. And for lack of knowing how to buy, she must resolve to sell the players she trains, increasingly younger. The finding is there. And we can only deplore it. “
Laurent HESS