Pau-Orthez sold to US-based Counterpointe Sports Group

2021-06-21T21:10:33+00:00 2021-06-21T21:11:26+00:00.

Aris Barkas

21/Jun/21 21:10

Eurohoops.net

The mayor of Pau François Bayrou announced on Monday the sale of the Elan Béarnais Pau-Lacq-Orthez to a group of American investors, Counterpointe Sports Group

By Eurohoops team/ info@eurohoops.net

The nine-time French champion Pau-Lacq-Orthez is officially owned by a group of American investors, Counterpoint Sports Group (CSG).

As “L’Equipe” reported, the local mayor who was also the president of the community that was the majority shareholder until recently, confirmed the deal.

According to the same report, the club’s total budget will be increased to seven million euros for the upcoming 2021-2022 season, a 20% rise compared to this year.

It has to be noted that the project includes an environmental and real estate component. Stu Jackson former NBA vice-president will be the new general manager, while Hall of Famer Rick Pitino, who is currently the coach of the Greek national team, and former All-Star Jamal Mashburn are part of the investment group.