Sochaux sold to Romain Peugeot ahead of appeal over administrative relegation | OneFootball

Despite an deal being reached for Romain Peugeot’s takeover of the club, Chinese conglomerate Nenking have backed out of an agreement whereby they would provide the €4m needed for the club to stay in Ligue 2, as reported by L’Équipe.

The former Ligue 1 side were relegated to the third division for administrative reasons, and have found themselves on the brink of bankruptcy. Romain Peugeot, the grandson of the club’s founder, and backed by local investors, had agreed a deal to buy the club from Nenking. The deal would see him provide three-quarters of the €12m requested by the DNCG, French football’s financial watchdog.

However, Nenking, who have been in charge since 2020, have now decided not to put the remaining €4m on the table, according to the senator for the Territoire de Belfort department Cédric Perrin, speaking to AFP.

According to France Bleu, Peugeot has in any case now become the owner of Sochaux, with Nenking completely withdrawing in exchange for a symbolic euro. However, the sale is dependent on the club’s appeal with the French football authorities being accepted. Their appeal with the CNOSF – the French Olympic Committee – will take place tomorrow afternoon. The committee will give an advisory opinion, with the FFF executive committee then due to make a definitive decision.

France Bleu add that the DNCG are no longer asking for €12m, but rather €9.5m following the sales of Eliezer Mayenda to Sunderland and Abdallah Nour to Guingamp. Peugeot had reportedly anticipated Nenking’s withdrawal, and has called on other investors to bridge the gap.

GFFN | Raphaël Jucobin