AS Saint-Etienne : the club’s debt has doubled since Galtier left! | ASSE News

Zapping Goal! Football club ASSE: Laurent Hess’ editorial on the management of hope Bilal Benkhedim

Two weeks ago, ASSE successfully passed the DNCG milestone, even presenting a positive budget for the 11th consecutive year. Despite this positive signal validating “the relevance of the change in sports project initiated by Claude Puel”, the Greens are not out of the woods. Far from there. And the arrival of a new shareholder seems vital in order to prevent AS Saint-Etienne from having a disappointing tomorrow.

Indeed, if the club chaired by Bernard Caïazzo and Roland Romeyer succeeded in convincing the French financial policeman not to take “any restrictive measure” on the presentation of the 2021-22 budget, it is thanks to the good sales made last summer. and the remaining transfer drafts to be returned to the coffers. However, it is difficult to get out of this extremely strict policy because of the health and economic uncertainties (TV rights in particular), which hover over French football.

Last week, the DNCG made public the operating accounts of Ligue 1 and Ligue 2 clubs at the end of the 2019-20 season (that of the start of the Covid crisis) and certain elements may be of concern. Over the 2019-20 season, ASSE admittedly finished a beneficiary of € 406,000 after tax, generating in particular € 113.19 million in income for € 106.97 million in expenses. We were then at the height of the expensive strategy of the leaders, initiated under Jean-Louis Gasset and which continued with the qualification for the Europa League managed by his replacement Ghislain Printant. Saint-Etienne would then sell very well (€ 43.92 million in revenues plus € 26.8 million in receivables on transfer), invested in large reinforcements (€ 5.5 million disbursed, € 5.70 million in fees for agents and € 10.30 million in transfer amortization) and had a significant payroll (€ 58.05 million). On the other hand, this risk-taking policy has widened the club’s liabilities.

Total debt is over € 75m

At a time when revenues from TV rights were already starting to decline (€ 36.9 million, -12.53% compared to the previous year) like those from sponsorship (€ 9.44 million, -50.21% ) and ticketing (5.35 M €, -14.78%), the debt has exploded. Between the financial debt contracted with banking organizations (40.25 M €), the debt on transfers made (10.55 M €) and those classified in the “other” category (25 M €), we already exceeded 75 M € of total debt. By way of comparison, in June 2017, when Christophe Galtier left, the club’s financial debt was only € 7.91 million with € 5.70 million in drafts to be paid on recruits and € 22.12 million in “other” indebtedness. It has therefore more than doubled in the space of three years …

In his balancing act carried out in 2020-21, the figures of which will not be revealed by the DNCG until the summer of 2022, Saint-Etienne can thank Leicester and Wesley Fofana, Brest and Franck Honorat as well as all the starters of the summer 2020 for drastically lowering charges and putting liquidity in the cogs. Despite everything, it is only a question of “infusions” to keep the club afloat after a year when TV and ticketing revenues have plunged. Debt, it must always be repaid … And it is on this point that a new shareholder with full pockets is expected because neither Roland Romeyer nor Bernard Caïazzo have the financial backing to mop up this hole.

The real financial figures of ASSE

The latest DNCG report provides a clearer picture of the state of ASSE’s finances. On the liabilities side, it should be noted that the club’s debt to banking organizations has exploded over the last few seasons. There is something to be worried about.

Alexandre corboz