Toulouse FC
RedBird Capital Partners acquisition · 20 Jul 2020
- Seller
- Olivier Sadran
- Stake acquired
- 85%
- Control
- Yes
- Reported consideration
- €10.7m
- Implied equity value
- €12.6m
- League
- Ligue 2
- Country
- France
- Confidence
- MEDIUM
Buyer profile: RedBird Capital Partners: clubs owned, where they buy next
RedBird Capital Partners acquired a 85% majority stake in Toulouse FC from Olivier Sadran, announced 20 Jul 2020.
Reported consideration was €10.7m. That implies a 100% equity value of €12.6m (calculated by us). Announced enterprise value was ~€30m.
Nearest pre-acquisition revenue was €36.1m (FY 2019/20), an equity value / revenue multiple of 0.35x.
- Announced
- 20 Jul 2020
- Closed
- —
- Stake after transaction
- 85%
- 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: 2019/20
Revenue
Wages
EBITDA
Net debt
Net income
RedBird's acquisition of Toulouse FC is well-confirmed on the core facts (buyer, seller, 85% stake, July 20 2020 announcement, Ligue 2 status post-relegation) via RedBird's own press release. The consideration is the messy part: RedBird never disclosed a price at announcement, and initial media reporting (including L'Équipe) circulated a €20-30m range that appears to have been speculative.
- RedBird Capital Partners press release (GlobeNewswire) ↗Tier 1 · primary company
2020-07-20 — “RedBird Capital Partners and Toulouse Football Club owner Olivier Sadran entered into a definitive agreement on July 20, 2020 to sell an 85% majority stake in the Club to RedBird; Sadran retained a 15% stake and remained on the Board of Directors; Damien Comolli became executive director of football operations. Financial terms not disclosed.”
- Sportico — 'French Soccer Team Toulouse FC Sold to RedBird Capital' ↗Tier 4 · specialist media
2020-07-20 — “Reported RedBird's acquisition of an 85% stake in Toulouse FC from Olivier Sadran; noted that Cardinale/RedBird declined to disclose financial terms of the sale. (Fetched via search snippet only; full page returned a redirect that was not re-verified live.)”
- franceinfo — 'Ligue 2 : le Toulouse FC désormais propriété du fonds américain RedBird' ↗Tier 3 · national media
2020-07-20 · fr — “French national media confirming Toulouse FC (playing in Ligue 2 following 2019/20 relegation) was sold to RedBird Capital Partners. (Sourced via search snippet; not independently re-fetched.)”
- LesViolets.com — 'Info LesViolets.Com : voici pour quel prix Olivier Sadran a vendu le TFC à RedBird' ↗Tier 5 · specialist media
2021-05-24 · fr — “Cites company filings: 'Toulouse Loisirs a cédé 113 762 actions de la société Toulouse Football Club à la société FootballCo B.V pour 10 691 712 €' — i.e., the 85% stake was sold for €10.69m, versus media estimates at the time of €20-30m (per L'Équipe and others).”
- LFP/DNCG — Comptes individuels des clubs, saison 2019/2020 ↗Tier 1 · league body accounts
2021-07-07 · fr — “TOULOUSE FC — SASP + SAS TFC DÉVELOPPEMENT + ASSOCIATION — Droits audiovisuels 24 205 / Sponsors-Publicité 4 306 / Recettes matches 1 456 / Autres produits 6 157 / TOTAL PRODUITS HORS MUTATION 36 124 / Rémunération du personnel chargée 31 313 / RÉSULTAT DES OPÉRATIONS MUTATION 11 356 / RÉSULTAT NET -4 871 / Dettes financières 26 059 / Disponibilités et V.M.P. 8 674 (K€, saison 2019-2020)”
- La Dépêche du Midi — Vente du TFC : Toulouse sous pavillon émirati ? ↗Tier 2 · regional media
2025-04-13 · fr — “'le fonds dirigé par Gerry Cardinale a largement valorisé un "produit" qu'il avait acquis pour 10,7 millions d'euros, et pourrait réaliser une belle plus-value en le cédant.'”
- Le Parisien/AFP — Foot : Toulouse vendu au fonds américain Redbird Capital Partners ↗Tier 2 · general media
2020-07-20 · fr — “'Le montant de la transaction n'a pas été communiqué mais le quotidien L'Équipe a évoqué récemment le chiffre de 20 millions d'euros.'”
- Toulouse FC — Communiqué du 2 mars 2026 (blind trust) ↗Tier 1 · primary company
2026-03-02 · fr — “'Avec effet au 28 février, les actions détenues par RedBird Capital Partners dans le Toulouse FC ont été placées dans une structure de blind trust, afin d'assurer la conformité avec la réglementation de l'UEFA relative à la propriété multi-clubs.'”
- LFP/DNCG — Comptes individuels des clubs, saison 2019/2020 (Toulouse FC bilan cumulé) ↗Tier 2 · league body accounts
2021-07-07 · fr — “TOULOUSE FC — SASP + SAS TFC DÉVELOPPEMENT + ASSOCIATION — BILAN CUMULÉ (K€): Immobilisations incorporelles : indemnités de mutation 13 633 / Créances sur mutations de joueurs 18 553 / Disponibilités et V.M.P. 8 674 / TOTAL ACTIF 51 168 / Situation nette 5 697 / Comptes courants d'actionnaires 0 / Provisions R et C 425 / Dettes financières 26 059 / Dettes sur mutations de joueurs 4 830 / Autres dettes 14 157 / RÉSULTAT NET -4 871”