AS Saint-Étienne
Kilmer Sports Ventures acquisition · 13 May 2024
- Seller
- Roland Romeyer & Bernard Caïazzo
- Stake acquired
- 100%
- Control
- Yes
- Reported consideration
- ~€20m
- Implied equity value
- ~€20m
- League
- Ligue 2
- Country
- France
- Confidence
- MEDIUM
Buyer profile: Kilmer Sports Ventures: clubs owned, where they buy next
Kilmer Sports Ventures acquired 100% of AS Saint-Étienne from Roland Romeyer & Bernard Caïazzo, announced 13 May 2024, closing 3 Jun 2024.
Reported consideration was ~€20m. That implies a 100% equity value of ~€20m (calculated by us). Announced enterprise value was ~€20.1m. ~€30m of debt was assumed or restructured.
Nearest pre-acquisition revenue was €20.4m (FY 2022/23), an equity value / revenue multiple of 0.98x.
- Announced
- 13 May 2024
- Closed
- 3 Jun 2024
- Stake after transaction
- 100%
- Status
- completed
Reported consideration
What the buyer reportedly paid for the stake
Implied 100% equity value
Calculated: consideration ÷ stake acquired
Reported club valuation
Enterprise value
Only shown when debt/cash near the transaction date is established
Debt assumed / restructured
Primary capital injection
Total announced investment commitment
Commitments are not purchase price and not valuation
Nearest pre-acquisition financial year: 2022/23
Revenue
Wages
EBITDA
Net debt
Net income
Kilmer Sports Ventures (backed by Larry Tanenbaum, chairman of Toronto's Maple Leaf Sports & Entertainment) acquired 100% of AS Saint-Étienne from long-time co-presidents Roland Romeyer and Bernard Caïazzo, with the deal announced as exclusive negotiations on 13 May 2024 and completed on 3 June 2024 — the day after ASSE won promotion back to Ligue 1 via the playoffs.
- AS Saint-Étienne official statement: 'Kilmer Sports devient l'unique actionnaire de l'AS Saint-Étienne' ↗Tier 1 · primary company
2024-06-03 · fr — “Confirms Kilmer Sports became sole shareholder ('l'unique actionnaire') of ASSE on 3 June 2024, buying out Roland Romeyer and Bernard Caïazzo; Ivan Gazidis named club president. No price disclosed.”
- Kilmer Group corporate press release: exclusive negotiations to acquire AS Saint-Étienne ↗Tier 1 · primary company
2024-05-13 — “Kilmer Sports Ventures announces exclusive negotiations with Caïazzo and Romeyer to acquire ASSE; no price given.”
2024-06-04 — “Reports the deal price was 'estimated at around €20 million ($21.6m) for the shares'; deal closed the day after ASSE's promotion to Ligue 1.”
- Poteaux Carrés: 'Une vente à 25 millions d'euros ?' ↗Tier 5 · specialist media
2024-05-16 · fr — “Citing 20 Minutes, reports a proposed €25m purchase price, and cites economist David Gluzmann arguing the real value is closer to a symbolic €1 given ~€30m of incompressible club debt.”
- Societe.com company financial record: SASP AS Saint-Étienne (SIREN 408630069) ↗Tier 4 · registry aggregator
n.d. · fr — “Registry-sourced financial data showing SASP AS Saint-Étienne revenue of €28,747,000 for the fiscal year corresponding to 2022/23, and a net loss for the following year.”
- En Vert Et Contre Tous: 'Feu vert pour les finances de l'ASSE' ↗Tier 5 · specialist media
2023-07-28 · fr — “DNCG cleared ASSE's finances without restriction for 2023/24 season, budget presented at €27m; references the 2022/23 net result of +€151,000 driven by player sales.”
- LFP/DNCG — Individual club accounts, 2022/2023 season (EN edition) ↗Tier 1 · league body accounts
2024-04-25 — “AS SAINT-ÉTIENNE — SASP + ASSOCIATION + SCI JEAN SNELLA + ASSE GROUPE + ASSE PRODUCTS — Broadcasting rights 5 754 / Sponsors-Advertising 6 877 / Gate receipts 2 955 / Cost of transfers [proceeds] 33 087 / Other income 4 844 / TOTAL INCOME 53 517 / Total payroll 27 416 / Amortisation of transfer fees 3 933 / Net book value of the players transferred 2 023 / TOTAL EXPENSES 52 968 / OPERATING INCOME 549 / NET PROFIT (LOSS) 151 / Net equity 16 596 / Financial debts 18 265 / Cash 18 161 (K€, 2022-2023 season)”
- LFP/DNCG — Individual club accounts 2022/2023 (AS Saint-Étienne balance sheet) ↗Tier 2 · league body accounts
2024-04-01 — “AS SAINT-ÉTIENNE — SASP + ASSOCIATION + SCI JEAN SNELLA + ASSE GROUPE + ASSE PRODUCTS — BALANCE SHEET (K€): Intangible assets: transfer fees 3 946 / Other fixed assets 20 821 / Receivables on player transfers 9 654 / Other current assets 8 358 / Cash and marketable securities 18 161 / TOTAL ASSETS 60 940 / Net equity 16 596 / Shareholder current accounts 117 / Provisions 3 016 / Financial debts 18 265 / Debts on player transfers 878 / Other debts 22 068 / NET PROFIT 151”