Felipe Massa, Kevin Magnussen, Novak Djokovic invest in Ligue 2 club Le Mans through Brazilian firm

New York Times

3 days ago

Felipe Massa, Kevin Magnussen and Novak Djokovic have become investors of Ligue 2 club Le Mans FC through a Brazilian investment firm, the French club's president announced on Friday.
Le Mans secured promotion back to France's second tier last season via a second-placed finish in the third division, National. Club president Thierry Gomez said in a statement on their website that Le Mans welcomed private equity firm OutField as its new financial partner in order to pursue its ambitions of becoming 'a permanent presence in French professional football'.
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OutField's investment in Le Mans is led by co-founder Pedro Olivera, and among its consortium of investors, it named Georgios Frangulis, the founder and CEO of health food brand OakBerry, alongside sportsmen Djokovic, Massa and Magnussen.
'We want to help grow the city's brand and sporting heritage,' Frangulis said in the statement. 'Le Mans has a unique name in world sport, and the sense of belonging the club can offer makes this project exceptional. Novak, Felipe, and Kevin understand this better than anyone, and that's why they're so excited.'
Djokovic, formerly ranked the No. 1 men's tennis player in the world, has won 24 Grand Slam titles during his career. The 38-year-old is yet to retire, and another major trophy would see him pull clear for the record of most Grand Slam titles won by any player in the history of the sport. Le Mans said the Serbian's 'mental strength and unique approach will bring considerable added value' to the club.
Massa and Magnussen, meanwhile, have both had careers in Formula 1. Magnussen has more recently competed in endurance racing and he represented BMW M Team WRT in competing at the 24 Hours of Le Mans in June, the 102-year-old race for which the French city is globally famed.
Massa won 11 Grands Prix between 2006 and 2008 before he suffered a fractured skull due to a spring from Rubens Barrichello's car hitting his helmet at the Hungarian Grand Prix in 2009.
'Le Mans FC has a strong connection with motorsport, and when my good friend and partner at Oakberry, Georgios Frangulis, presented the project to me, I wanted to be a part of it—especially alongside people I deeply respect, like Djokovic, who needs no introduction, and Magnussen, with whom I shared many years in Formula 1,' he said.
'It's undeniably a great opportunity, taking advantage of the momentum of French football, the reigning Champions League champion, which is currently attracting significant investment.'
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Their involvement marks a continuing trend of high-profile athletes becoming involved in the investment of sports teams. Rapper Snoop Dogg and AC Milan midfielder Luka Modric invested in Swansea City earlier this summer, while Tom Brady became a minority owner of Birmingham City in 2023. American golfers Jordan Spieth and Justin Thomas purchased stakes in Leeds United the same year.
Meanwhile, Trent Alexander-Arnold, Anthony Joshua and Rory McIlroy joined investment group Otro Capital in 2023, which bought into the Alpine F1 team. LeBron James, a four-time NBA MVP, is another example, having invested a minority stake in the Fenway Sports Group (FSG), which owns Liverpool.