The Fribourg cantonal government has officially cleared the sale of shares in the ice‑hockey club Fribourg‑Gottéron that was carried out by Fribourg Cantonal Bank to a firm controlled by the family of former bank chairman Albert Michel.
Regulatory Findings
The transaction, which covered roughly twenty percent of the club’s capital, had been under scrutiny after La Liberté highlighted that the price paid was essentially symbolic, while the club had posted losses averaging more than CHF250,000 per year over the preceding five seasons.
According to the investigation, Albert Michel stepped aside from any discussion of the deal, a move that the authorities said removed any risk of insider trading, and the Swiss Financial Market Supervisory Authority (FINMA) did not raise any objections.
The bank had rescued the financially struggling club during the 2006‑2007 season, injecting capital that later turned into a substantial shareholding after a CHF5.6 million debt write‑off.
Just weeks after the share transfer, Fribourg‑Gottéron celebrated its first Swiss championship title, a sporting high that underscores the club’s recent resurgence.
While the regulatory clearance removes legal hurdles, the episode reflects the delicate interplay between public‑sector finance, private enterprise and professional sport in Switzerland.