Kylian Mbappe, celebrated as one of the world’s best players, has found himself in unfamiliar territory—not on the pitch, but as a club owner. The French superstar, who took an 80% ownership stake in Ligue 2 side Caen in July 2024 through his investment firm Coalition Capital, is facing growing discontent from fans of the storied club. Once heralded as a feel-good story of a soccer icon giving back, the Real Madrid star’s ownership tenure has turned sour, marked by poor results, controversial decisions, and comparisons to other high-profile soccer owners like Sir Jim Ratcliffe and Todd Boehly.
When Mbappe acquired a majority stake in Caen, optimism surged among supporters. The club, which had a rich history in Ligue 1, had struggled in recent years, languishing in Ligue 2 since 2019. The France international’s involvement, coupled with reports of a €15 million personal investment, was seen as a potential turning point for the club’s fortunes.
However, halfway through the 2024-25 season, the Vikings find themselves 16th in Ligue 2, level on points with the relegation zone. A 1-0 loss to Clermont Foot on Friday further compounded their struggles, prompting fans to voice their dissatisfaction. During the match, supporters displayed banners criticizing the club’s management.
One banner read: “Mbappe, SMC is not your toy.” Another urged respect for local traditions, stating: “Before shining on the world stage, respect the local figures.”
Divisive Decision: Sacking coach Nicolas Seube
Central to the discontent is Mbappe’s decision to part ways with Nicolas Seube, a Caen legend who served as both player and coach for over two decades. Seube was dismissed in December following a poor first half of the season, with Bruno Baltazar brought in as his replacement.
The announcement of Seube’s dismissal, described as abrupt and lacking respect, drew sharp criticism. Former Caen player Brahim Thiam voiced his displeasure on France Bleu, stating: “It’s as if they’ve given Nicolas Seube a kick in the pants, telling him to leave. It’s simply disrespectful.” Supporters echoed this sentiment with banners reading: “Here, legends are made through work and loyalty.”
French media comparisons: Ratcliffe, Boehly, and Mbappe
The French media has drawn comparisons between Mbappe’s handling of SM Caen and the tumultuous first years of Sir Jim Ratcliffe at Manchester United and Todd Boehly at Chelsea. Ratcliffe, who acquired a minority stake in Manchester United in December 2023, implemented ruthless cost-cutting measures, including reducing staff headcount by 25%. While some employees sympathized with Ratcliffe’s goals, many described morale as being very low.
Similarly, Todd Boehly’s tenure at Chelsea has been marked by overspending, overseeing four permanent managers and three squad overhauls in just two years. The fractured relationship between Boehly and his co-owner Behdad Eghbali has cast further doubt on the Blues’ ownership structure.
In comparison, Mbappe’s tenure at Caen has been characterized by abrupt decisions and unfulfilled promises, sparking accusations that the club has become a mere “toy” for the French star.
