Kylian Mbappé Lottin has become the majority shareholder of Caen, a club in the French second division, which makes him, at 25, one of the youngest owners of a professional football club.
The Real Madrid captain's company Interconnected Ventures announced the takeover in a statement on Wednesday.
Mbappé, a World Cup winner has invested $21.6 million to acquire 80% of the club’s shares and also has decided to pay off a portion of the club's debt, according to regional newspaper Ouest France.
Mbappé replaces the previous majority shareholder, the American investment fund Oaktree, which purchased 80% of the club’s shares in 2020.
"This transaction marks a significant step in the club's strategic development and reinforces its natural ambition to remain one of the most successful clubs in French football," Caen said in a statement.
"This acquisition will provide Caen with additional strategic resources to strengthen its sporting policy, modernise its infrastructure and develop innovative projects."
Mbappe's close friend Ziad Hammoud will take over as chairman of the club.
"We are determined to create an environment where young talent can flourish and where the club can defend its identity with strength and ambition," Hammoud said in the press release.
The remaining 20% of the capital is held by Pierre-Antoine Capton, the current chairman of the club’s supervisory board, Kickgh.com noted.
Meanwhile, mayor of Caen Aristide Olivier posted on social media about the acquisition, saying; "You'd have to think that the time he spent at Caen in his youth left its mark on him! How proud we are to see a champion like @KMbappe investing in @SMCaen."
Kickgh.com recalls that Mbappé and his family have traditionally had a very good relationship with the club, as the player was even close to joining them at 13 years old in 2012, an option that did not materialize due to French regulations on signing young players.
Founded in 1913, Caen finished fifth in the top flight in 1992 and reached the League Cup final in 2005 but have played in French Ligue 2 since 2019.
By: Pascal Amoah
