A recent regulatory review has confirmed that the disposal of shares in the Swiss hockey club Fribourg‑Gottéron by Fribourg Cantonal Bank was fully compliant with Swiss law.
The transaction, which transferred a 20 % stake to a holding linked to the family of former bank chairman Albert Michel, had been scrutinised after a report by the daily La Liberté.
Regulatory Clearance
Both the cantonal authorities and the Swiss Financial Market Supervisory Authority (FINMA) concluded that the deal met all legal requirements, despite the club’s chronic financial deficits.
Over the five years preceding the sale, Fribourg‑Gottéron had posted average losses exceeding CHF 250,000 annually, and the team hovered on the brink of bankruptcy during the 2006‑07 season.
The state‑owned bank stepped in as a major shareholder, rescuing the club from collapse and securing its place in the National League.
Albert Michel, a well‑known figure in the Fribourg business community, retained influence through his family’s ownership of the buyer entity.
FINMA’s assessment found no evidence of market abuse or procedural irregularities, reinforcing confidence in the oversight framework for sports‑related investments.
The cantonal government, which had previously provided indirect support, echoed the regulator’s stance, emphasizing that the transaction was conducted at arm’s length and at market‑appropriate terms.
While the club continues to navigate a challenging financial landscape, the clearance removes a legal cloud that could have hampered future fundraising efforts.