Mashburn's Helen Holdings explains collapse of Monaco deal
Jamal Mashburn's investment fund said unresolved risks from due diligence, not lost interest, caused its bid for AS Monaco to collapse.
Helen Holdings, the investment fund founded by former NBA All-Star Jamal Mashburn, has explained why its plan to buy into Monaco fell through.
The fund told L'Équipe that due diligence on the club turned up several unresolved risks it was not prepared to take on.
"We could not responsibly agree to unlimited risks connected to historical liabilities and other insufficiently defined risks, over which a new investor would have limited or no influence at all," Helen Holdings said in a statement.
The fund rejected any suggestion that Mashburn had walked away from the deal at the last moment. Helen Holdings said the former NBA All-Star had not lost interest in the project and had the financing in place to complete it.
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