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CAEN, France (AP) — French soccer superstar Kylian Mbappé took his first step toward becoming a club owner on Wednesday when his company completed its purchase of second division side Caen.
Interconnected Ventures, the company founded by the Real Madrid forward, has acquired a majority stake in the French club based in Normandy through its investment arm Coalition Capital.
“This transaction marks an important step in the club’s strategic development and reinforces its natural ambition to continue to rank among the historic greats of French football,” Caen said in a statement.
Coalition Capital replaced the previous majority shareholder, American investment fund Oaktree. Caen did not disclose the financial details of the deal, but reports indicate Coalition Capital acquired an 80 percent stake in the club for €15 million ($16.3 million).
Ziad Hammoud, CEO of Interconnected Ventures, said: “As the lead investor in this project, we are very enthusiastic about the idea of working with PAC Invest to continue developing Caen. The vision we share with the club is one of sporting excellence and community involvement, which is at the core of our approach. We are determined to create an environment where young talent can flourish.”
Caen finished sixth in the second division last season.
Mbappe signed a five-year contract with Real Madrid in July after seven years at Paris Saint-Germain.
Mbappe scored in the 2018 World Cup final as France won the title, and in the 2022 World Cup final, he scored a hat trick as France lost to Argentina. At this year’s European Championship, Mbappe wore a protective mask due to a broken nose.
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