In 2024, Mbappe became one of Europe’s youngest football club owners after purchasing an 80 per cent stake in Caen through his firm, Coalition Capital, investing around €20 million. What began as a symbolic homecoming, returning to the club that once nearly signed him as a youth, quickly turned into a cautionary tale of ambition and mismanagement.
By April 2025, Caen had hit rock bottom. A crushing 0-3 defeat to Martigues mathematically confirmed their relegation from Ligue 2, sending the club into France’s third division for the first time in 41 years. Supporters stormed the pitch in protest, unfurling a banner reading: “Mbappe, SMC is not your toy.”
The fallout was immediate. Sixteen staff members were laid off in a controversial restructuring, and fan trust evaporated. Christophe Vaucelle, head of the Malherbe Normandy Kop, summed up local sentiment, saying: “The Mbappe clan bears some responsibility. They arrived, stayed invisible, and disconnected from the fans. The situation is catastrophic.”
For Mbappe, the failure cut deep. Alongside Madrid’s Champions League exit that same week, Caen’s relegation marked one of the most turbulent months of his career, both as a footballer and businessman.