News

Montauban in the red

Monday 13th October 2008

Montauban: In better form on the field than off it

French club Montauban have some serious explaining to do after it was revealed that they are 1,3 million Euros short of balancing their books after last season - despite declaring otherwise to French authorities.

According to French daily Midi Olympique, Montauban officials will meet with authorities from the French League to explain the massive financial hole revealed in an audit done by club president Daniel Havis.

Faced with an investigation by the DNACG - the French league's financial watchdog and the body responsible for demoting Albi by a division for similar reasons at the end of last season - Montauban's president will have to convince the visiting accountants that the club can pull the situation from the fire.

Top of the list of questions that will need to be answered will be how Montauban were able to declare that they were 300 000 Euros in the black in June.

It has been reported that the 896 000 Euros transferred to the Montauban municipality by the Regional Administration for the refurbishment of the Patrick Bardot grandstand at Sapiac stadium are still stuck in the Town Hall's bank account. Montauban have already received the maximum amount of money allowed for by the law for this kind of operation.

Furthermore, the club paid more than 300 000 Euros in bonuses to the players and coaches as reward for their qualification for the Heineken Cup. In addition, Montauban had to buy out the contracts of top players Pablo Lemoine and S�bastien Fauqu�.

Montauban have until Wednesday to submit their final financial statements to the DNACG, who have an reputation for being uncompromising when it comes to murky finances, as Albi can attest.

"The hour has come to roll up our sleeves and for the club, the Town Council and the Region to work hand in hand. I'm convinced a solution can be found," said Havis, who is said to be accused of a certain amount of lassitude.