Kita sells FC Nantes to Paulo Tavares for a sum that raises experts' eyebrows

Waldemar Kita signed an agreement in principle on Tuesday to sell to an investor group led by Paulo Tavares, ending nineteen years of rule by the Polish-Belgian executive at the head of FC Nantes. According to L’Équipe, this signature constitutes the final step before the completion of a historic takeover for the Nantes club.

At the heart of the operation, Paulo Tavares heads Phenix Sports Invest, an offshoot of Phenix Capital based in Luxembourg, and relies on a pool of private investors from France, Portugal and Luxembourg. The entrepreneur claims to have raised over 300 million euros to finance his development project.

The amounts put forward for the takeover itself are already fuelling controversy. Some sources mention a transaction approaching 100 million euros excluding bonuses, others cite 125 million euros. Figures that stand in sharp contrast to the estimates of many experts and supporters, who considered a valuation of between 20 and 40 million euros far more in line with the reality of a club relegated to Ligue 2, with ageing infrastructure — the La Jonelière training centre and the Stade de la Beaujoire — and facing serious sporting difficulties.

Paulo Tavares’ profile also raises concerns in the Nantes environment. A former player agent, he had already attempted, unsuccessfully, to buy Valenciennes in 2019, Saint-Étienne in 2023, and then the Swiss club Neuchâtel alongside a Chechen businessman. This track record of repeated failures fuels mistrust among some supporters.

The initial outlines of the project are also struggling to convince. While Jérôme Champagne’s name is circulating for the position of president, former manager Vahid Halilhodzic, approached for the role of general manager, declined the offer. Before any projection on the club’s future, the file will have to pass the decisive stage of validation by the DNCG, which will examine the real solidity of the financial guarantees provided by the new investor pool.