Latest news with #TeddyRiner
Fashion Network
a day ago
- Business
- Fashion Network
Le Coq Sportif: The bid backed by Xavier Niel and Teddy Riner 'hampered', according to their lawyers
What's going on with Le Coq Sportif? The singing gallinaceous sports brand, official supplier to the French Olympic and Paralympic Team for Paris 2024, placed in receivership last November, is the subject of two takeover bids. However, after a number of twists and turns in the timetable, a decision was expected on July 4, but on Monday one of the consortiums carrying one of the takeover bids denounced the way it had been treated. According to its lawyers, the bid from the team comprising the American group Iconix and Xavier Niel, and backed by French judo champion Teddy Riner, was "deliberately hindered" and "weakened." With a decision expected from the Paris Business Court only a few days away, its lawyers are calling for "a reopening of the proceedings." The court is due to take a decision in a particularly electric climate surrounding a company that remains a modest player in world sport. The brand is still 75% owned by the Swiss company Airesis, which acquired it 20 years ago and has yet to unveil its annual results for 2024. At the end of the first half of 2024, Le Coq recorded sales of 82 million euros, up 30%, for a net loss of 18 million euros. In 2023, total sales were 121 million euros, with a loss of 28 million euros. Yet the brand, which employs some 300 people and has a workshop in Romilly sur Seine near Troyes, is far more powerful than its sales would suggest, particularly in France. As a result, the French Ministry of the Economy has been keeping a close eye on the case, attracting a number of key players to the takeover. Since mid-May, both parties have been making a series of discreet announcements in an attempt to tip the balance in their favor. The most likely bid is that of Franco-Swiss businessman Dan Mamane. Born in Toulon, the entrepreneur, as described in his profile in the Swiss media outlet Le Temps, moved to Switzerland at the age of 18 and graduated from HEC Lausanne. The Vaud-born entrepreneur built up his fortune in the electronics trade with the creation of his Powerdata group. He moved into retail in 2021, with the takeover and turnaround of Conforama Suisse, and earlier this year acquired the Ogier ski brand. At his side is former Fusalp CEO Alexandre Fauvet. Les Echos reports that Cédric Meston, head of Tupperware France, may also join the project. Although the details are not known, the fact that he would maintain jobs at the group's head office in Troyes would be a factor, as would the issue of receivables, which would limit the impact on local authority finances. The second offer came from a consortium comprising French billionaire Xavier Niel, judoka Teddy Riner, investment company Neopar, American group Iconix, as well as the current boss of Airesis, parent company of Le Coq Sportif, Marc-Henri Beausire, and the Camuset family, founders of the brand. In a five-page letter dated June 26 and addressed to the president of the court and the Paris public prosecutor - which AFP has obtained - the business law firm August Debouzy "requests the reopening of the debates within the framework of the examination of the draft recovery plans, in that the process followed to date has, in many respects, been vitiated by breaches of the fundamental principles governing collective proceedings." "It appears that the plan presented by the consortium made up of Iconix, Neopar, Airesis and their partners, despite having been duly submitted within the prescribed deadlines, has been deliberately hindered, weakened and then effectively ousted from the examination process," asserts the firm, which denounces a "methodical obstruction by the court-appointed administrators." According to August Debouzy, "the plan presented by the consortium was not rejected because of its economic or legal characteristics, but because the court-appointed administrators decided, from the very first weeks of the procedure, to make the plan supported by Mr. Mamane their own plan." According to the takeover plan made public in May, the consortium is 51% owned by Neopar, an investment company specializing in "company turnarounds" and owned by the Poitrinal family, 26.5% by investors, and 22.5% by the American group Iconix. The consortium had told AFP that it planned to contribute a total of 60 million euros, which would be "injected immediately" into the company. With AFP
Fashion Network
2 days ago
- Business
- Fashion Network
Le Coq Sportif: The bid backed by Xavier Niel and Teddy Riner 'hampered', according to their lawyers
What's going on with Le Coq Sportif? The singing gallinaceous sports brand, official supplier to the French Olympic and Paralympic Team for Paris 2024, placed in receivership last November, is the subject of two takeover bids. However, after a number of twists and turns in the timetable, a decision was expected on July 4, but on Monday one of the consortiums carrying one of the takeover bids denounced the way it had been treated. According to its lawyers, the bid from the team comprising the American group Iconix and Xavier Niel, and backed by French judo champion Teddy Riner, was "deliberately hindered" and "weakened." With a decision expected from the Paris Business Court only a few days away, its lawyers are calling for "a reopening of the proceedings." The court is due to take a decision in a particularly electric climate surrounding a company that remains a modest player in world sport. The brand is still 75% owned by the Swiss company Airesis, which acquired it 20 years ago and has yet to unveil its annual results for 2024. At the end of the first half of 2024, Le Coq recorded sales of 82 million euros, up 30%, for a net loss of 18 million euros. In 2023, total sales were 121 million euros, with a loss of 28 million euros. Yet the brand, which employs some 300 people and has a workshop in Romilly sur Seine near Troyes, is far more powerful than its sales would suggest, particularly in France. As a result, the French Ministry of the Economy has been keeping a close eye on the case, attracting a number of key players to the takeover. Since mid-May, both parties have been making a series of discreet announcements in an attempt to tip the balance in their favor. The most likely bid is that of Franco-Swiss businessman Dan Mamane. Born in Toulon, the entrepreneur, as described in his profile in the Swiss media outlet Le Temps, moved to Switzerland at the age of 18 and graduated from HEC Lausanne. The Vaud-born entrepreneur built up his fortune in the electronics trade with the creation of his Powerdata group. He moved into retail in 2021, with the takeover and turnaround of Conforama Suisse, and earlier this year acquired the Ogier ski brand. At his side is former Fusalp CEO Alexandre Fauvet. Les Echos reports that Cédric Meston, head of Tupperware France, may also join the project. Although the details are not known, the fact that he would maintain jobs at the group's head office in Troyes would be a factor, as would the issue of receivables, which would limit the impact on local authority finances. The second offer came from a consortium comprising French billionaire Xavier Niel, judoka Teddy Riner, investment company Neopar, American group Iconix, as well as the current boss of Airesis, parent company of Le Coq Sportif, Marc-Henri Beausire, and the Camuset family, founders of the brand. In a five-page letter dated June 26 and addressed to the president of the court and the Paris public prosecutor - which AFP has obtained - the business law firm August Debouzy "requests the reopening of the debates within the framework of the examination of the draft recovery plans, in that the process followed to date has, in many respects, been vitiated by breaches of the fundamental principles governing collective proceedings." "It appears that the plan presented by the consortium made up of Iconix, Neopar, Airesis and their partners, despite having been duly submitted within the prescribed deadlines, has been deliberately hindered, weakened and then effectively ousted from the examination process," asserts the firm, which denounces a "methodical obstruction by the court-appointed administrators." According to August Debouzy, "the plan presented by the consortium was not rejected because of its economic or legal characteristics, but because the court-appointed administrators decided, from the very first weeks of the procedure, to make the plan supported by Mr. Mamane their own plan." According to the takeover plan made public in May, the consortium is 51% owned by Neopar, an investment company specializing in "company turnarounds" and owned by the Poitrinal family, 26.5% by investors, and 22.5% by the American group Iconix. The consortium had told AFP that it planned to contribute a total of 60 million euros, which would be "injected immediately" into the company. With AFP
Yahoo
15-05-2025
- Sport
- Yahoo
Teddy Riner to miss World Judo Championships as he preps for one more Olympics
France's Teddy Riner, the most successful judoka in Olympic history, will miss next month's World Championships as he comes back from elbow surgery and prioritizes long-term preparation for a record sixth Olympic bid. "Even though the elbow surgery I underwent a few months ago is behind me, I'm not yet feeling 100%," was posted on Riner's social media. "And to step onto a tatami at the highest level, I need to be ready, both physically and mentally. It's never easy to withdraw from a major competition, but this is a thoughtful decision made with my team. We're working hard every day to come back stronger." Advertisement Riner, 36, owns the most Olympic gold medals (five) and medals (seven) in judo history, including individual heavyweight titles in 2012, 2016 and 2024. He also shared the honor of lighting the Paris Olympic cauldron with fellow Guadeloupe native Marie-José Pérec, a track star from the 1990s. Since winning individual and team gold in Paris, Riner has repeatedly said that he plans to compete through the 2028 LA Olympics. "Now that I have become the record holder in my sport, I experience things differently," he said in April, according to a translation of a L'Equipe report. "Now, four years (before the 2028 Olympics), I will try to go moonwalking in Los Angeles. No pressure, only pleasure. And if I manage to go and collect a fourth (individual) gold medal, I will do it with joy. That is the objective. But it is certain that there will not be the pressure that I was subjected to in Tokyo, in Paris. Now, it is above all pleasure. And to live the last four years of my sport at the top. And to finish in 2029 to say goodbye." Advertisement He is already the oldest Olympic judo gold medalist, and in LA can become the oldest judoka to win an Olympic medal of any color, according to the OlyMADMen. Riner, who made his Olympic debut in 2008, can break the record he currently shares of five Olympic appearances in judo. Riner also owns the record of most world championship titles in judo — 12 from 2009 through 2023, including two in separate open competitions without weight categories and one in a team event. He also skipped World Championships in both the Tokyo and Paris Olympic cycles. Olympics LA 2028 LA 2028 Olympics add new events in swimming, gymnastics, track; more female spots for first time There will be more women's quota places than men's quota places at the Olympics for the first time.
NBC Sports
15-05-2025
- Sport
- NBC Sports
Teddy Riner to miss World Judo Championships as he preps for one more Olympics
France's Teddy Riner, the most successful judoka in Olympic history, will miss next month's World Championships as he comes back from elbow surgery and prioritizes long-term preparation for a record sixth Olympic bid. 'Even though the elbow surgery I underwent a few months ago is behind me, I'm not yet feeling 100%,' was posted on Riner's social media. 'And to step onto a tatami at the highest level, I need to be ready, both physically and mentally. It's never easy to withdraw from a major competition, but this is a thoughtful decision made with my team. We're working hard every day to come back stronger.' Riner, 36, owns the most Olympic gold medals (five) and medals (seven) in judo history, including individual heavyweight titles in 2012, 2016 and 2024. He also shared the honor of lighting the Paris Olympic cauldron with fellow Guadeloupe native Marie-José Pérec, a track star from the 1990s. Since winning individual and team gold in Paris, Riner has repeatedly said that he plans to compete through the 2028 LA Olympics. 'Now that I have become the record holder in my sport, I experience things differently,' he said in April, according to a translation of a L'Equipe report. 'Now, four years (before the 2028 Olympics), I will try to go moonwalking in Los Angeles. No pressure, only pleasure. And if I manage to go and collect a fourth (individual) gold medal, I will do it with joy. That is the objective. But it is certain that there will not be the pressure that I was subjected to in Tokyo, in Paris. Now, it is above all pleasure. And to live the last four years of my sport at the top. And to finish in 2029 to say goodbye.' He is already the oldest Olympic judo gold medalist, and in LA can become the oldest judoka to win an Olympic medal of any color, according to the OlyMADMen. Riner, who made his Olympic debut in 2008, can break the record he currently shares of five Olympic appearances in judo. Riner also owns the record of most world championship titles in judo — 12 from 2009 through 2023, including two in separate open competitions without weight categories and one in a team event. He also skipped World Championships in both the Tokyo and Paris Olympic cycles. Nick Zaccardi,
Local France
04-04-2025
- Politics
- Local France
Athletes frustrated as France mulls Muslim headscarf ban in sport
The single mother made her four children proud when she became the French national champion in her amateur category last year, after discovering the sport aged 40. But now the Muslim convert fears she will no longer be able to compete as the French government is pushing for a new law to ban the headscarf in domestic sports competitions. "It feels like they're trying to limit our freedoms each time a little more," said Eberena, a passionate athlete who trains five days a week. "It's frustrating because all we want is to do sport." Advertisement Under France's secular system, civil servants, teachers, pupils and athletes representing France abroad cannot wear obvious religious symbols, such as a Christian cross, a Jewish kippah, a Sikh turban or a Muslim headscarf, also known as a hijab. Until now, individual national sports federations could decide whether to allow the hijab in domestic competitions. But the new legislation aims to forbid the head covering in all professional and amateur competitions countrywide. Backers say that would unify confusing regulation, boost secularism and fight extremism. Critics argue it would be just the latest rule discriminating against visibly Muslim women. The bill passed in the Senate in February and is soon to go to a vote in the lower house of the French parliament. Some proponents want to stop what they call "Islamist encroachment" in a country that has been rocked by deadly jihadist attacks in recent years. But critics point to a 2022 interior ministry report finding that data "failed to show a structural or even significant phenomenon of radicalisation" in sport. French Olympic judo champion Teddy Riner, a star of the 2024 Paris Games, last month said France was "wasting its time" with such debates and should think about "equality instead of attacking a single and same religion". Right-wing Interior Minister Bruno Retailleau responded that he "radically disagreed", describing the headscarf as "a symbol of submission". Advertisement Eberena, who converted aged 19, said her head attire - allowed by the weightlifting federation - had never been an issue among fellow weightlifters. She said the sport has allowed her to make friends from completely different backgrounds. "Sport brings us together: it forces us to get to know each other, to move beyond our prejudices," she said. France's football and basketball federations are among those that have banned religious symbols, including the headscarf. The country's highest administrative court in 2023 upheld the rule in football, arguing the federation was allowed to impose a "neutrality requirement". United Nations experts last year called the rules in both sports "disproportionate and discriminatory". Advertisement It is difficult to estimate how many women might be prevented from competing if such legislation passes. But AFP spoke to several women whose lives had already been affected by similar rules. Samia Bouljedri, a French 21-year-old of Algerian origin, said she had been playing football for her club in the village of Moutiers for four years when she decided to cover her hair at the end of high school. She continued playing with her team, but after her club was fined several weekends in a row for allowing her on the field, they asked her to take off her hijab or quit. "That they ended my happiness, just like that, over a scarf made me really sad," she said. France's brand of secularism stems from a 1905 law protecting "freedom of conscience", separating church and state, and ensuring the state's neutrality. The country's constitution states that France is a secular republic. Rim-Sarah Alouane, a researcher at University Toulouse Capitole, said the 1905 law, intended "to protect the state against potential abuses from religion", had been "weaponised" against Muslims in recent years. French secularism "has been transformed into a tool in its modern interpretation to control the visibility of religion within public space, especially, and mostly, targeting Muslims," she said. Sports Minister Marie Barsacq last month warned against "conflating" the wearing of a headscarf with radicalisation in sport. But Justice Minister Gérald Darmanin said that if the government did not "defend secularism", it would empower the far right. In the Oise region north of Paris, Audrey Devaux, 24, said she stopped competing in basketball games after she converted to Islam a few years ago. Instead, she continued training with her former teammates and began coaching one of the club's adult teams, she said. But when she goes to weekend games, she is not allowed onto the courtside bench with a headscarf - so she is forced to yell out instructions from the bleachers. "At school I learnt that secularism was living together, accepting everyone and letting everybody practice their religion," Devaux said. "It seems to me they're slightly changing the definition."
