Liverpool part-owners RedBird Capital Partners have sealed their first major football success after Toulouse sealed promotion back to French football's top flight.
RedBird, who own 11 per cent of Liverpool owners Fenway Sports Group, ergo having a stake in the Reds, the Boston Red Sox, the Pittsburgh Penguins and other FSG properties in the empire, took a majority stake of Toulouse in the summer of 2020 following Les Violets' relegation from Ligue 1 to Ligue 2.
Having gone close last season, Toulouse finally booked their return to French football's top tier on Monday following a 2-0 win at home to Niort. Goals from Brecht Dejaeghere and Ado Onaiwu settled the contest in front of 24,000 fans at Stadium TFC, the three points putting them 11 clear of third placed Auxerre to ensure that they could not be caught and would be guaranteed one of the two automatic promotion places.
Toulouse can clinch the Ligue 2 title next week, the club eight points clear of second placed Ajaccio with just three games remaining. Toulouse, who travel to 17th placed Rodez, need just a point to seal the title thanks to their vastly superior goal difference, some 32 better than their only challengers.
READ MORE: Mohamed Salah makes priority brutally clear as Liverpool handed major advantage
READ MORE: Liverpool and Man City 'hold talks' over £33m striker as defender could leave
Toulouse's efforts in Ligue 2 have been spearheaded by former Liverpool sporting director Damien Comolli, who was installed shortly after RedBird, owned and founded by experienced US financier Gerry Cardinale, completed their takeover of the French side. Comolli had been sounded out by RedBird to lead their bid to return the club to former glories early in the process.
Comolli, speaking to the Football Journeys Podcast earlier this year, explained how the current relationship with RedBird came to be, revealing the Liverpool part-owners had come close to investing in another English club.
"When I left Fenerbahce a private equity fund, RedBird Capital got in touch with me," said Comolli.
"I had known the people at RedBird for many years and they have asked me to get involved in different projects they had.
"A few months after I got to Fenerbahce they almost did a deal to buy a club in England and they wanted to buy out my contract but I said 'I won't move from Fenerbahce'.
"I left Fenerbahce and they called me and said 'right timing' as they were about to buy a club in Europe and could I run the club for them.
"We had a lot of meetings in the US, we went to a lot of clubs. They had looked at 70 clubs in a lot of detail for three years and visited a lot of them in the space of two or three years, travelling around the world.
"Toulouse was on the market and we all agreed it was a great opportunity, great academy, great stadium, big fan base, great city, very dynamic, 110,000 students, very diverse. They had just got relegated and the owner wanted to sell. It is a big city, easy to get to and that is how we ended up buying it."
RedBird had to first steady the ship when taking on the club that finished bottom of Ligue 1 in 2020 and that was mired in crisis. Last season was one of rebuilding, parting ways with Patrice Garande as manager last summer and moving to appoint former Nottingham Forest, Real Sociedad and Standard Liege boss Philippe Montanier as his successor, a move that has paid dividends.
Promotion means that RedBird are on track with their plan for the club, which was to return to Ligue 1 within two years.
Speaking to the ECHO last year, Yves Dussert, president of fan group ADIST (Association for the Defence of the Interests of Supporters of Toulouse), said: "For the moment the romance is perfect.
"RedBird have put effective communication back in place, the club seems to care more about its fans. They have been able to respect the history of the club, in particular the death of Brice Taton (a Toulouse supporter shot dead in Belgrade before a European game back in 2009).
"They have taken the organisational concerns head on, renovating the technical centre which was unworthy of a high level club and restructuring the recruiting unit which accumulated failures. For the moment all is for the best, in particular the good results which have arrived.
"For Redbird the vision is a rapid rise in Ligue 1 within two years and to impose the club in the top half of the French championship, which is appealing to the fans.
"They have already planned investment projects in the training centre and the technical centre, and they are working with local authorities on the subject of the stadium and really seem to want to build a football club over the long term by doing their best to attract fans while respecting the history and specificities of football in France.
"They came with men who know the subject and with the desire to learn. Only the future will tell us if the project is well done. It is very interesting."
RedBird acquired 11 per cent of FSG in a $750m deal in March last year, the New York-based investment firm now managing some $5bn in assets with the growth of its portfolio. Over the past 12 months it has also taken a small stake in Spanish side Malaga, a stake in Indian Premier League cricket side Rajasthan Royals and bought the rights to the XFL spring football league alongside Hollywood actor Dwayne Johnson.
Speaking at the time of taking over Toulouse, RedBird founder and managing partner Cardinale said: "“We are proud and excited to help write the next chapter of Toulouse FC and realise its tremendous potential.
"We are committed to building a sustainable, long-term foundation for the club’s success by enhancing its on-field sporting performance, business operations and contributions to its community. We look forward to working closely with Olivier (Sadran, who holds 15 per cent stake in club), 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."
Monday night's success is the first major thing ticked off RedBird's 'to do' list at Toulouse.
