As TimesLive’s Sazi Hadebe reports, the SA boss of Le Coq Sportif says the deals with Bafana Bafana, Banyana Banyana and Stellenbosch FC are not in danger.
Bafana Bafana’s kit sponsorship deal with the French apparel company Le Coq Sportif, which has been placed in receivership by the Paris commercial court “with a six-month observation period”, is not going to be affected until its terms ends in 2026.
That assurance was made by Roger Noades, Sales Director of Le Coq Sportif South Africa. Noades said Bafana’s sponsorship will runs its course until its expiry date after the 2026 World Cup, because the South African division operates separately from its embattled parent company in France.
SAFA signed the six-year deal with Le Coq Sportif in a frenetic financial period amid the height of the Covid-19 pandemic in June 2020. Noades is adamant the financial problems Le Coq has in France won’t affect any partnerships with local teams, including Bafana, Banyana Banyana and Stellenbosch FC.
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Reports internationally are Le Coq Sportif’s risk of bankruptcy comes from years of losses that occurred despite obtaining loans from the Paris 2024 Olympic Organising Committee and the French state. The company is also embroiled in a legal spat with the French Rugby Federation, which is reported to be seeking €5.3m (R102m) from its former partner.
“You have to understand French law, where if you say they’re bankrupt, their Chapter 11 is something very different. South Africans don’t understand the French Chapter 11, but it is similar to restructuring a business,” Noades told TimesLIVE. “Pre-Covid-19 I think the French office went out and spent millions of euros on the Olympic Games and brought fantastic coverage for the French flag. Then they had French rugby, but I think, yes, there were some outstanding payments to people. I think at the end of January they will have another important meeting and another one at the end of February. Le Coq Sportif was established in 1870 and it’s the oldest sports brand in the world. The French are extremely patriotic people and there is no way they will let this brand slip globally. In South Africa, my licence allows me to operate independently from the French company. So with Le Coq Sportif SA I’ve got licence and I source my products from Madagascar, Mauritius, Durban and China. For footwear, I don’t get my own shoes, I don’t go through the entire process. I get things through the Le Coq managers, but I’m an independent entity from what the French are going through.”
Noades said the South African operation of the company was in a healthy state.
“Don’t get me confused with the trouble the French are going through, because I’ve got 53 retail shops in South Africa and in November and December I was 40% up on sales. So, I’m happy,” he said. “Everything is 100% with the deal with SAFA. Not just SAFA, but also with Stellenbosch FC. Everything is hunky-dory.”
Noades said he believed there was a possible solution on the cards for the French operation’s financial problems.
“I’m not allowed to tell you about the solution yet, but I think by February the business will be bigger and stronger.”
SAFA’s CEO Lydia Monyepao could not be reached for comment.
