Mbappe's promising takeover of the club is already proving to be false dreams

Stade Malherbe Caen currently sits bottom of Ligue 2 eight points from safety with one point from their last nine league games. A dire situation to say the least for the club that reached the Coupe de France Semi-Finals in the 17/18 season and was in the top flight as recently as 2019.

The Norman club’s downfall has coincided with Kylian Mbappe’s involvement with the club. Investment firm, Coalition Capital, a subsidiary of the French striker’s company Interconnected Ventures, bought an 80% stake in SM Caen in July 2024. Mbappe then became the official owner of the team ahead of this season in September 2024, an unfortunate coincidence that cannot be ignored.

🚨👔 Kylian Mbappé signed tonight all documents to become the new owner of French side SM Caen.

Everything has been sealed, reports L’Équipé as Kylian will acquire 80% of the Ligue 2 club’s shares. pic.twitter.com/kfzrxSXF3J
— Fabrizio Romano (@FabrizioRomano) July 30, 2024

The 24/25 campaign is the Vikings’ sixth straight in Ligue 2, but in the last three seasons, relegation has not been a question, with the club finishing around the playoffs in 7th, 5th and 6th. Business has also been positive, with the club recording net profit every season since 17/18. This included last summer when they made €9.3 million including the sale of Andreas Hountondji to Burnley for €4 million and Norman Bassette to Coventry for €2.7 million.

Fan's patience reaches limit in January

Tensions peaked a month ago in a home match which they lost 1-0 to Clermont Foot, fanmade banners read “Mbappé, SMC is not your toy” and "Before shining on the world stage, respect the local figures". The protest was in response to the decision to sack head coach Nicolas Seube, who has been associated with the club since 2001, playing for 17 of those years before becoming an academy coach, second team coach and then head coach of the senior side.

Despite Seube’s poor performances, he was loved around the club and fans were disappointed to see his two decade dedication to the club dismissed in a five sentence statement. Especially as he was replaced by Bruno Baltazar, a manager with no experience in French football, which has been proven by Caen’s five straight losses since his appointment.

The fan protests continued to escalate throughout January, and climaxed in another home loss to Guingamp when ultras stormed the pitch demanding accountability from players and management. The club’s refusal to meet with fans before the match further strained relations. “Anger and fear have taken over us,” said a statement from Malherbe Normandy Kop, one of the club’s ultra groups. “Following inadequate recruitment, an unresponsive ownership, and players who do not seem to fight, we feel abandoned.”

24.01.2025🇫🇷SM Caen - Guingamp, pitch invasion in Caen while SM Caen lost at home 1-0 against Guingamp, Caen is in a critical situation, 17th with 6 points behind 15th, for more click here: https://t.co/ejiM5bwMG4 pic.twitter.com/1rV4zWx4jD
— Hooligans.cz Official (@hooliganscz1999) January 24, 2025

SM Caen have not played in France’s third tier since the early 80s, over 40 years and plays in the Stade Michel d'Ornano, a stadium with over 20,000 capacity. The Vikings have also had several famous players play for them in recent history including N’Golo Kante, Thomas Lemar, Raphael Guerreiro, William Gallas and Andy Delort.

Concerning numbers

Caen’s statistics are worrying too, the Vikings have kept three clean sheets in 21 matches - a league low - and have also let in 1.52 goals per 90. The squad generally contains players struggling at the level, a mere shadow of the squad that used to fight in the top flight. Former Premier League player and French international Yann M’Vila did join Caen last summer, although even his experience has not been enough to save them yet.

The only bright spark this season has been Alexandre Mendy, the striker has been at the club for over four years now and has scored 11 goals in all competitions this season. His league goal involvements (9) mean he has contributed to almost half of Caen’s entire goal haul in Ligue 2 (19). Mendy scored 57 goals across Caen’s previous three Ligue 2 campaigns, averaging out at 19 a season and almost left the club last summer with top-flight teams circling. However, a move elsewhere could soon be likely, as his goals have not been able to help Caen win more than four league games this season.