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Investment firm RedBird Capital buys majority stake in French soccer club Toulouse

Investment company RedBird Capital Partners said on Monday that it had agreed to buy an 85% stake in French soccer club Toulouse, following owner Olivier Sadran's decision to sell his stake in the club to the firm.

PARIS, July 20 (Reuters) - Investment company RedBird Capital Partners said on Monday that it had agreed to buy an 85% stake in French soccer club Toulouse, following owner Olivier Sadran's decision to sell his stake in the club to the firm.

Toulouse was relegated from France's top flight earlier this year.

"We look forward to working closely with Olivier, the City of Toulouse and the Occitanie Region to return Toulouse FC to an elite level and elevate the entire city of Toulouse through its long-term success," said RedBird founder Gerry Cardinale in a statement.

(Reporting by Sudip Kar-Gupta; Editing by Toby Chopra)

((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))

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