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Stade Francais dodge relegation from French Top 14 competition – Rugby news

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Stade Francais dodge relegation from French Top 14 competition – Rugby news
Paris based French professional rugby union club, Stade Francais, will participate in the 2011/12 domestic, French Top 14, and European competitions after they survived their Top 14 relegation threat. Officials at the club made the announcement on the club’s
website on Monday, June 27.
Stade Francais Top 14 spot and financial situation were safeguarded because of the intervention of Oberthur’s 6.6 Million Euros injection into the club.
Stade Francais finished in the place at the end of the 2010/11 Top14 season with 49 points, which includes 10 wins from 26 games played in the season. Francais came under intense relegation pressure after the governing body of French rugby found that the
club’s financial health did not allow the club to compete in the France’s top-level domestic championship.
Later, Stade Francais announced that they had signed a deal with a Canadian corporation named FACEM who bought 66 percent shares in the club for 12 Million Euros.
However, on June 22, the Francais relegation threat surfaced again, after FACEM was found to be a fraudulent organization.
The financial committee of the National Rugby League (DNACG) summoned Stade Francais’ top management for a hearing on Monday, June 27.  Stade Francais were required to prove in front of the DNAGG the availability of the 6.6 Million Euros that would cover
the club’s debts and other financial matters.
 On Monday, June 27, Stade Francais appeared before the DNAGG and provided the details of the club’s funding resource. According to the initial details, a technology company, Oberthur, has financed the requisite amount to the club.
Oberthur’s, Director of Technology, Thomas Savere, will be the new president of Stade Francais while their last president Max Guazzini has been given the charge as honorary president.   
Speaking on the occasion, Savere said, “We struggled. This was born out of adversity but we are very happy. It was not possible for Stade Francais to disappear. This is a wonderful adventure.”
When asked about his motive to invest in and save the club from the relegation, Savere replied, “We saved a great club, this is a private investment of passion because I am a supporter. We will continue the tradition.”
Savere further confirmed that he has requested Guazzini to remain involved in the club affairs and help him to develop a championship-winning unit.  
Additionally, French police have arrested three people in connection with the alleged fraud with the Top14 outfit and the forgery of the documents. Reports are that the police have charged three accused of “organized fraud, forgery and using forged documents.”
Further Investigations are under way.
Stade Francais at the start of this month announced massive changes to their squad.  However, it remains to be seen whether Savere persists with the same line-up or has other plans.

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