Stade Rennais president Nicolas Holveck, here on June 22, 2020. -
C. Allain / 20 Minutes
Stade Rennais has reached an amicable agreement with its insurers.
The Breton club had taken Gan Assurances and QBE to court over the losses linked to Covid-19.
He demanded compensation for several million euros of operating losses.
The hatchet was buried.
Stade Rennais has reached an agreement with its insurers that it had taken to court to obtain compensation for several million euros for operating losses linked to Covid-19, we learned Friday from the court of Rennes trade.
"The case is withdrawn, there will be no judgment," said the court, whose decision could have set a precedent for other clubs if the procedure had gone that far.
The terms of the agreement between the club and its two insurers, Gan Assurances and QBE, have remained confidential.
Last season, the premature end of the championship cost Stade Rennais nearly 20 million euros and this season, the chasm caused by the obligation to remain behind closed doors in the stadiums and the sinking of the broadcaster Mediapro could exceed 40 million. euros, according to an estimate by the president of the Breton club, Nicolas Holveck.
The club demanded at least 4.5 million euros in provisions
If it seems obvious that the Pinault family, extremely wealthy sole shareholder of the club, will support part of these losses, the club claimed at least 4.5 million euros in provisions from its insurers for operating losses.
These losses relate to the loss of revenue from ticketing and "hospitality" (rental of boxes, seminars, etc.).
The first claim filed in May had met with a refusal by insurers, due to an exclusion clause that the club considered too vague.
Stade Rennais then sued its insurers before the commercial court, as many restaurateurs have done since the first confinement, for example.
A first hearing had taken place in early December and another, scheduled for this week, had been postponed to allow time for amicable negotiations between the parties.
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