Oliver Kahn Backs Out of Bordeaux Takeover Deal
FORMER Germany and Bayern Munich goalkeeper Oliver Kahn said on Monday he has backed out of a potential deal to buy struggling fourth-tier French club Bordeaux.
Kahn sent an open letter to local newspaper Sud Ouest explaining he was not willing to pay the 50 million euros ($57.2 million) to fulfil the deal.
'It is therefore with great disappointment, despite extensive preparatory work and rigorous analysis, that we have taken the carefully considered decision not to pursue our takeover project,' he said in the letter seen by AFP.
Six-time French champions Bordeaux are currently in Nationale 2 after falling into financial difficulties.
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