Stade Francais cleared to stay in French top flight rugby league
PARIS — French club Stade Francais were given clearance on Monday to remain in the Top 14 next season in spite of the financial problems which threatened to bankrupt the Paris-based…
PARIS — French club Stade Francais were given clearance on Monday to remain in the Top 14 next season in spite of the financial problems which threatened to bankrupt the Paris-based outfit.The financial committee of the National Rugby League (DNACG) ruled that Stade, who were facing possible relegation from the top flight to the third division if they could not come up with 6.6 million euros by Monday's meeting, would retain their topflight status.Stade were saved at the last moment thanks to the intervention of Thomas Savere, the director general of the technology company Oberthur.The 43-year-old Savere will take over as president of the club with Max Guazzini, who has been in charge since 1992, moving aside to be honorary president.Stade thought their financial woes were over earlier this month when a virtually unheard of Canadian foundation, FACEM, said they would invest 12 million euros in the club.However, the deal, brokered by former coach Bernard Laporte fell apart and last week it was announced that both he and Guazzini were suing FACEM for fraud.Three people have been arrested in Paris in connection with the case and charged with organised fraud, forgery and using forged documents. Copyright © 2011 AFP. All rights reserved. More »
last modification 2011-06-27 20:00:14
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