Illustration of the Matmut Atlantique stadium. – Philippe Caumes
- The metropolis wants to take advantage of the sale of Girondins de Bordeaux to finally settle the question of Matmut Atlantique. Its operating company is in fact in great financial difficulty.
- 20 minutes presents the four possible scenarios for the Bordeaux enclosure and its two owners, Bordeaux Métropole and SBA (Fayat / Vinci).
- The takeover of the operating company would only cost the future buyer a few million euros. On the other hand, the purchase of the stadium is valued at 150 million euros.
“We must at all costs avoid industrial disaster”, this is what we can hear recently in the corridors of Bordeaux Metropolis when we evoke the situation of
Matmut Atlantic. The
Bordeaux Atlantique Company, manager of the Bordeaux enclosure, is in fact in great financial difficulty. Very bad news for the city since the stadium was financed by a PPP (public-private partnership). We must therefore save the soldier Matmut Atlantique as soon as possible so as not to soon have him 100% on his hands.
Since its inauguration in 2015, the 42,000-seat setting built outside the city, in Bordeaux-Lac, has not been profitable. SBA has to face each year with a deficit of 3 million euros. There are many reasons for this: the unsuitable initial business plan, the absence of economies of scale on the staff, the absence of UBB matches for two years and ultimately too few events to cover its costs. . Faced with this situation, Fayat and Vinci (the shareholders of SBA) are therefore suggesting to the metropolis that they could quickly withdraw. Well-founded threats since according to information from 20 minutes, the operating company will file for bankruptcy at the end of 2021 for lack of cash. By way of comparison, (Nice Eco Stadium, a company which manages the Allianz Riviera in Nice, was placed on May 6 in a safeguard procedure.
A letter from the metropolis sent to the stakeholders of the sale
It is for this reason that for months this file has been at the top of the pile of Alain Anziani, the president of Bordeaux Métropole. In collaboration with SBA, in recent months he had initiated discussions with the Girondins of Bordeaux for them to resume operation of the stadium but Frédéric Longuépée, CEO of Marine et Blanc, dragged his feet for a long time and finally, no agreement was found between the three parties. No big deal, the mayor of Mérignac now intends to shoot down his second card. He wants to take advantage of the sale of the club to finally settle the question of Matmut Atlantique.
🔴⚽️ From the world to the gate …
👉Fievet and Rigo well candidates
👉Quillot in ambush, Fosun back but without Mendes?
👉A very solid Franco-American record embodied by John Williams (Martin and Rigo ready to join him?) #Bordeaux #Girondins #FCGB https://t.co/tUNrAqJRQO– Clement Carpentier (@clementcarpet) May 25, 2021
In this logic, the metropolis sent, according to an internal source at the club, a few days ago a document to the various stakeholders to remind them of the issues around the Bordeaux enclosure. As a reminder, with the current financial package, the Girondins pay a rent of 4.9 million euros to Bordeaux Métropole and some operating costs to SBA for each match. During the previous resumption of the Girondins in 2018, the buyers (GACP and King Street) had to undertake to pay this rent.
The “Marseille” scenario would be a first solution
Today there are four possible scenarios on the table. The first is the most dramatic. It is the one where the future buyers of the club do not want to hear about the management of Matmut Atlantique. This status quo would have several consequences, says a specialist: “SBA would file for bankruptcy at the end of the year, the metropolis would be obliged to resume the operation of the stadium under direct control without the annual fee of 4.6 million. euros of SBA and with a staff takeover. The financial operation would be catastrophic and in addition, it is not the role of a metropolis to take care of this kind of infrastructure. “
The second scenario is said to be “Marseille”. Why ? Because it consists of the concession of exploitation rights to the future buyer as Aréma did with Franck McCourt’s OM in 2018. SBA would officially remain the operating company but would grant its rights to the new owner of the Girondins for a fee. For example, naming would still be the property of SBA while the club could organize seminars, concerts or any other type of event at its convenience at Matmut Atlantique. It would already be a good solution for all parties today.
20 million euros to buy SBA, 150 for the stadium?
But the scenario that Bordeaux Métropole dreams of in particular is the third. This concerns the repurchase of the shares of Vinci and Fayat, the two shareholders of SBA. As Alain Anziani said last week, the two companies are very open to discussion on this subject. According to information from 20 minutes, they have already set a price: 20 million euros. “An insane amount for a deficit box” for one of the candidates for redemption but which has the advantage of being very low next to an outright redemption of the enclosure. The two parties, if negotiations take place, could find an agreement for a few million euros. In this case, the arrival of a new shareholder structure could also interest the Union Bordeaux-Bègles. Why not go back and play a few big posters in the Bordeaux enclosure each season? Or even enter the capital of this operating company? This stadium remains a real estate of great value.
Finally, the last of the scenarios is the buyout of the stadium. He would solve all the problems. It would be a first in France but of course it is extremely expensive. A specialist now assesses the price of the Matmut Atlantique at 150 million euros between the loan to be repaid and the contractual clauses issued by Fayat and Vinci at the time of its construction in 2011. This option seems at the moment T rather improbable knowing that the resumption of the Girondins de Bordeaux will already be very expensive due to the indebtedness of the club.
One thing is certain in this case, SBA and Bordeaux Métropole are hand in hand and they will play their card to the full. They will also be able to sell a rather attractive program to the future buyer of the Navy and White. Indeed, there will normally be over the period 2022-2024 three concerts per year with international stars expected according to 20 minutes. After the arrival of the XV of France on November 14 (the ticket office will open on June 10) to face Georgia, the Matmut Atlantique will host four or five matches of the Rugby World Cup in 2023 then football matches of the Olympic Games in 2024.