Top tier French soccer club Olympique de Marseille (OM) will continue to play in Stade Vélodrome following the signing of a new lease agreement with city authorities.
The deal was announced by the Club’s owner, Margarita Louis-Dreyfus, and President, Vincent Labrune, together with the Mayor of Marseille, Jean-Claude Gaudin, at a press conference.
The three-year deal will see the Club pay the city a fixed fee of €3m for the upcoming season, and then €4m for each of the following two seasons. The agreement also means that if ticket sales exceed €20m in any given season, the Club will pay the city 20% of any excess.
Labrune said during the press conference:
This agreement is more than acceptable for both parties. This agreement, with a fixed sum and a variable sum, is a win-win. If our ticket sales grow, we will share a part of the profits with the city. If ticket sales do not grow, it doesn’t mean we will be dragging a ball and chain. It just makes sense. It’s how to run a company.
The Club has played at Stade Vélodrome since it opened in 1937. The stadium is currently nearing the end of a major refurbishment, which has seen the installation of a roof and an increase in capacity from 60,000 to 67,000, ahead of France’s hosting of UEFA’s EURO 2016 tournament.