Nantes takeover led by Paulo Tavares remains stalled

The proposed change of ownership at Nantes has not yet reached France’s football financial regulator, leaving Waldemar and Franck Kita in charge while the takeover process continues. The project is also facing internal opposition, with the club’s social and economic committee unanimously issuing an unfavourable opinion over concerns about the prospective buyers’ reliability and viability.

Almost three weeks have passed since Waldemar Kita and the consortium led by Paulo Tavares signed a preliminary sale agreement on October 1. The file has still not been submitted to the DNCG, whose strengthened powers now include a review of the buyer’s background through an independent integrity investigation.

Several administrative steps remain outstanding. Signatures from shareholders in Luxembourg are still required, while the DNCG is seeking a substantial set of documents before it examines the operation. Phenix Sport Invest, the company involved in the project, says it is continuing the legal and administrative work needed to complete the sale.

The consortium is opting to wait until its submission is complete, consistent and legally secured rather than file an incomplete case. That approach has extended the uncertainty around the project’s financial strength. The Kita family’s continued presence was underlined on Saturday, when Waldemar and Franck attended Nantes’ 3-2 defeat by Dunkerque.