Jamal Mashburn has finally addressed the failed project that could have seen him become one of the new investors in AS Monaco, after negotiations appeared to be moving toward a takeover before ultimately collapsing.
Through Helen Holdings, the investment fund founded by the former NBA player, Mashburn explained to L’Équipe that the deal could not be completed because several uncertainties emerged during the due diligence process. In particular, the potential investor faced the risk of assuming historical liabilities, existing commitments and previous obligations that had not been sufficiently defined.
“It was not possible to responsibly accept unlimited exposure to insufficiently defined historical liabilities and risks over which a new investor would have had limited or no control,” the statement said.
Helen Holdings also revealed that certain banking compliance requirements could not be resolved within the timeframe available, ultimately preventing the transaction from being completed.
The fund also rejected the suggestion that Mashburn had withdrawn at the last minute, stressing that the former NBA All-Star had neither lost interest in the project nor been unable to secure the necessary funding.
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