Alain Bernier’s Sale Day: Poe’s Hope Returns?

year, month and day. This period will go down as the period of time Ilan Bernier remained under the American flag, which is held by the Counterpointe Sports Group Fund. A glamorous era on the ground, with the club’s best results for 16 years (winning the Coupe de France and qualifying for the semi-finals of the qualifiers) but financially ruined, since CSG left Pau-Lacq-Orthez on the verge of bankruptcy, with a cash gap of about Two million euros. American history of EBPLO will end abruptly on Friday, July 22, 2022 since David Otto agreed to sell the club. The signing, with the Eat4Good Group, is expected in the afternoon, according to our information, corroborated by the signing of Sud Ouest, the first media outlet to publish the sale agreement.

A break with French leaders, City Hall and the LNB, David Otto is no longer at the helm

News that revives the aspiration to save in the extreme for the Pyrenean Foundation. “I think it is possible, but at least one of the two problems, either cash flow or judgment, must be resolved,” Philip Osor, president of the DNCCG, said last week. 11), rejected Ilan Bernier’s commitment to the LNB. So the sale should solve the second part of the equation since EBPLO has become completely unmanageable, with a clear split between the American owner, David Otto, and French president David Bonnemson-Carrier, who have not traded since the meeting at the NBA headquarters Eleven days ago.

Eat4Good, a project supported by François Bayrou

Aware of the club’s desperate situation, even if he had locked himself in a scapegoat policy, David Otto had declared himself open to such an outcome for a few days. “If there are any trusted buyers who are interested, we will talk to them,” he said on July 13. He simply did not succeed in drawing the expected price from him, as CSG found itself in a bind, challenged domestically by a climate of public hostility, abandoned by Town Hall, which was still waiting to pay its shares. The withdrawal of the planned support was one reason for the DNCCG’s decision. Selling the club unofficially also became a sine qua non for the hope of a positive outcome as it was clear that Alain Bernier was heading towards the wall with CSG. In addition to their difficulties in understanding the French regulatory framework, the Americans flatly refused to respond to the first request of the financial policeman: to transfer two million detainees in the United States to a French account. “How can we be sure that this capital will be run properly?” David Otto shot down. “We have to take care of it ourselves. It hasn’t been handled well over the past few years and it has brought us to this situation. And all of a sudden, we are now being told that we have to invest more money in the club and let the internal operators make the decisions? (laughs) No no, It won’t happen like that.”

To read:
Between financial emergency and internal wars, can the Bernas moment be salvaged?

Sebastian Menard, CEO of Eat4Good Group, future major shareholder of EBPLO

Contacting three potential buyers, CSG has finally agreed to sell Élan Béarnais to the Eat4Good Group, working for the food transition, headed by Sébastien Ménard, of Biarrot, a basketball fan and supporter of the club. This file has had the merits of Mayor François Bayrou since it was tried in the background by Thierry Briar, the former Secretary of State in charge of sports under François Hollande, who has become a lawyer again since his retirement from political life, and was previously involved in takeover projects of FC Nantes or Girondins. de Bordeaux. Sebastian Maynard will not arrive alone but with many local investors.

See you Monday at FFBB

Deadlocked until then, and promised bankruptcy or liquidation under the circumstances, Pau-Lacq-Orthez is rekindling hope for this future deal. An appeal has been lodged and momentum will appear on Monday before the federation’s Appeals Chamber, with the project already more likely to spark the authorities’ accession. Since Eat4Good has had the support of the city council, it seems already reasonable to imagine the return of local support, estimated at €1.2 million, to EBPLO accounts. It is up to buyers to come up with other compelling elements, particularly in terms of debt management. The green light from the FFBB is still very far from certain, but at least it is no longer impossible, unlike what would have happened with the CSG in driving.

If the Federal Chamber were to confirm the DNCCG’s refusal, however, Alain Bernier could still try to conciliate before the French National Olympic and Sports Committee (CNOSF) before a potential appeal to the Administrative Court. Thus, the series is not over yet, but a 180-degree turn was made on July 22. that survive?

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Jul 22 2022 at 1:34 am

year, month and day. This period will go down as the period of time Ilan Bernier remained under the American flag, which is held by the Counterpointe Sports Group Fund. A glamorous era on Earth, with the club’s best results in 16 years (winning the Coupe de France and qualifying for the semi-finals) but somehow devastating…

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