But a motion for them to be quoted on the Bourse, the Paris stock exchange, was not carried.
Said Sports and Youth minister Marie-George Buffet: "The Bourse and sport follow a radically different logic." Paris St Germain and L'Olympique Marseilles both favoured a Bourse listing, but Buffet's office publicised a survey showing that most French people were against sports clubs being quoted on the stock exchange. The senate house is expected to debate the draft law in the autumn.
The draft law also lifts a ban on professional clubs receiving public funds from January 1, 2000, a move that had caused considerable concern among smaller French clubs who depend upon local subsidies. "If this clause were maintained, I can assure you that numerous basketball, rugby, handball and even football clubs would disappear or fall into very big difficulties," said Buffet. The draft law also prohibits anyone from becoming a shareholder of several clubs within one sport.
On the transfer front, concerns of a continuing exodus of French players abroad has prompted the draft prohibition of transfer deals involving minors such as the one which took Nicolas Anelka to Arsenal. Anelka had been due to sign his first professional contract with Paris St Germain. two years ago, aged 17, when Arsenal stepped in with a #500,000 bid. The draft law proposes that a teenage apprentice's first professional contract should bind him or her to the same club for at least three years.
Last week, Olympique Lyon broke the French transfer record when they signed Brazilian striker Sonny Anderson for 116 million francs ($20 million) from Barcelona.
The French parliament have adopted a draft law governing professional sports clubs that allows clubs to take on a new status as limited companies and to sell shares.
