By David Gold
July 8 – The future of Racing Club Strasbourg is in doubt still with a takeover bid from Sebastien Graeff running into a stumbling block as minority shareholder Dominique Pignatelli stalls on accepting the offer.
The offer from Graeff could have kept the club in the third tier of French football, the National, after they had been relegated to the regional leagues due to their precarious financial situation.
The club has a debt of €20 million (£17.5 million/$28.5 million) and a €4.4 million (£3.8 million/$6.2 million) annual deficit.
The Contrôle de Gestion, the organisation in charge of overseeing club finances in the country, ruled that Strasbourg were to be demoted, but they made the same decision last season before allowing the club to take their place in the National league.
But Pignatelli has rejected the offer on the table for his shares, meaning that the takeover is in the balance.
Graeff is the first person to have made an offer for the club which majority shareholder and president Jafar Hilali has accepted.
More than 7,000 supporters of the club have also joined forces to raise funds to buy a stake in the club to ensure that they have a say in its future.
Contact the writer of this story at zib.l1734805507labto1734805507ofdlr1734805507owedi1734805507sni@d1734805507log.d1734805507ivad1734805507
Related stories
June 2011: Supporters group wants stake in troubled Racing Strasbourg