Nissan Continues to Struggle Financially, Leading to Possible Closure of its Soccer Team | Carscoops

      A surprising sale may lead Nissan to exit soccer ownership after many years, as the company seeks significant cost reductions in light of substantial financial losses.

      Reports indicate that Nissan is looking to sell its majority stake in Yokohama F. Marinos, a team established in 1972 as Nissan’s internal soccer club, which later achieved significant success. Potential buyers, including a major IT firm, have allegedly been contacted by Nissan.

      With Nissan facing challenging times, the company is implementing various cuts aimed at stabilizing its operations. While many of these measures have concentrated on workforce and manufacturing facilities, the automaker is now considering divesting its soccer team.

      Indeed, Nissan has a stake in Yokohama F. Marinos, which originated as the company's in-house soccer club. The team began its journey in 1972 and, within just four years, won the Kanto League, paving the way for further successes and advancement to higher leagues.

      However, it appears that this chapter in Nissan’s history may be nearing its end. According to Nikkei, the company is contemplating the sale of its approximately 75% stake in the team.

      The discussions seem serious, as the automaker has reportedly "approached several companies to explore transferring the club’s management rights." A notable bidder is believed to be a "major IT company," with a potential sale expected as soon as next year.

      This move stands in stark contrast to the past when Carlos Ghosn had protected sports from significant cuts. Nevertheless, Nissan's circumstances have worsened, evidenced by a reported loss of ¥670.8 billion ($4.5 billion) earlier this year. To turn things around, drastic actions are necessary, which may involve letting go of an element of its legacy.

      Some may argue that Nissan might have been better off selling their stake sooner to concentrate on their automotive business. However, hindsight offers clarity, and sometimes emotional ties can outweigh financial considerations.