Kylian Mbappe is no stranger to headlines, but few could have predicted the storm that descended on him over just seven days. On the surface, it began like any rough patch for a world-class player—a red card during Real Madrid’s La Liga clash with Alaves, followed by an injury in his side’s UEFA Champions League exit at the hands of Arsenal. But there was more to come. And it wasn’t just about his on-field performance. What followed would sting not just as a player, but as an investor and team owner.
The final and perhaps most painful chapter of Mbappe’s week came on Friday night, when Caen, the Ligue 2 side he owns through his investment fund Coalition Capital, was officially relegated to the French third division after a crushing 3-0 home defeat to fellow strugglers Martigues.
It’s a historic fall from grace. This is the first time since 1984 that Caen will no longer play in a professional league, with their spot in National 1, the semi-pro third tier, confirmed with three matches still left in the season.
Over 17,000 disillusioned fans witnessed the loss, which sparked a pitch invasion and venomous banners. One chilling sign read, “Malherbe is us, the s** is you,” directed at the players and club management. Another targeted the Real Madrid star directly: “Mbappe, SMC is not your toy.”
The 26-year-old Frenchman, who acquired 80% of the club’s capital last year for around $17 million, had lofty ambitions when he took over. He promised transformation, stability, and a route back to Ligue 1. The French media once buzzed with speculation that his acquisition would place Caen on a trajectory to European competition. Instead, they crashed out of Ligue 2 with the worst defensive record in the division and just five wins across the entire campaign.
Mismanagement and missteps
According to Ouest France, the 2024-25 campaign has been nothing short of “a season in hell.” Their reporting points to a chaotic transfer window, instability in leadership, and questionable board decisions that only worsened the crisis.
The firing of head coach Nicolas Seube, a club legend, drew ire from supporters. His replacement, the relatively unknown Bruno Baltazar, went on to lose all seven games he managed, scoring just one goal in the process. Michel Der Zakarian, the final appointment, couldn’t save them either, managing a mere 0.75 points per game.
As one supporter put it bluntly: “Management, players – all guilty, all out.” Even the normally reserved Caen ultras unfurled banner after banner calling for a full reset. “The Mbappe clan, which arrived late, bears its share of responsibility for this failure,” said Christophe Vaucelle, the founding president of the Malherbe Normandy Kop, in an interview with AFP.
Even former players are pointing fingers. Speaking to BeIN Sports, former defender Brahim Traore said: “The post-mortem starts with an audit of all the people who run the club and for them to question themselves. The truth is that the failure lies with them today. Believe me, it breaks my heart to see this club going down.”
