Oliver Kahn, the former Germany and Bayern Munich goalkeeper, announced on Monday that he has withdrawn from a potential takeover of the financially troubled French football club Bordeaux.
In an open letter to the local newspaper Sud Ouest, Kahn explained that he was unwilling to meet the €50 million ($57.2 million) price required to complete the deal.
“Despite extensive preparatory work and rigorous analysis, we have taken the carefully considered decision not to pursue our takeover project,” he wrote in the letter obtained by AFP.
Bordeaux, six-time French champions, are currently competing in the fourth-tier Nationale 2 division following a sharp financial decline.
