Le Fric: A deep dive into the politics and finances of the Tour de France and the family that controls it.
With the 110th edition of cycling’s greatest event set to begin next month, it’s the perfect time to brush up on your Le Tour history. Author Alex Duff has provided a masterfully crafted read that is both insightful and revealing.
Le Fric, French slang for cash, takes you back to the end of World War II and the liberation of France, when two duelling media entities wrestled for control of a novel race that would go on to be the pinnacle event of professional cycling. The story begins with a cash drop by British spies in occupied Paris intended for the resistance effort. The money eventually made its way to advertising executive Emilien Amaury. He was tasked with the return of a free press once France was liberated.
Amaury created a newspaper empire that eventually gained the rights to one of the world’s greatest sporting spectacles, The Tour de France. Originally created to lift French pride after years of suffering during and immediately after the war, the early editions were met with muted enthusiasm and there were some years that the race’s very survival was in question.
Le Fric will captivate you from the initial paragraph of the introductory page.“Once a year, an eighty-year-old widow and her two forty-something children gather in a Paris office to sign off on the financial accounts of the Tour de France… The meeting occurs every June, and is a formality… After agreeing to award themselves a dividend, often worth tens of millions of euros, they go their separate ways. The rendezvous has taken little more than an hour, and is over for another year. As the trio leave, they disappear on to the streets unrecognized.”
Alex Duff had covered the race as a reporter for Bloomberg News and became an instant fan. However, his interest in the publicity-shy Amaury family and their iron grip control of the event was a driving force for taking on such a complex subject. “There are a lot of good books out there on the well-known Tour de France cyclists along with the various histories of the race but there was little coverage of the business side of the Tour.” According to Duff.
His initial interaction with the Amaury family and the control they wielded over the Tour came back in 2012 when he was doing an article on the power struggle between the family and the professional cycling teams. “My first experience of the strange dynamic was walking into the media tent at the Tour de France and finding the first row was reserved for L’Equipe.” A publication owned by the Amaury family and effectively the Tours ‘inhouse’ newspaper according to Duff.
Le Fric is fastidiously researched, and even die-hard cycling fans will discover previously unreported information. It delves into how the Amaury family positions itself to have the final word on not only the Tour de France but professional cycling’s evolution.
Talk of a world cycling tour is discussed in Duff’s book but he is quick to point out that a new business model for cycling will never work. That is, unless those who control the marquee events have a change of heart. Duff notes that with multiple race owners looking after their own interests, changing the current power dynamic will be difficult. “That kind of structural change will only happen if the Amaury family allows it. And so far, they have shown no interest in changing the status quo under which they have much of cycling’s power and revenue.”
From humble beginnings to the rise and fall of Lance Armstrong when television ratings were at their peak, Le Fric examines how historic and notorious individuals come and go, but the Amaurys remain the one constant. “The ‘Armstrong years’ did serious damage to the Tour de France among the U.S. mainstream public. It scared off sponsors, but it was not permanent damage.” But Duff adds, “The Tour de France is still alive thankfully, and there is a blank canvas for more narratives.”
And the Amaury family’s reaction to the release of Le Fric? “A bit shocked by the title. Le Fric is a slightly dirty term for cash in France”, said Duff. “They were supportive to a certain extent with the book but, on balance, they would probably prefer to keep out of the limelight. They certainly can be proud of maintaining ownership for three generations. Despite doping scandals, they have made sure it is still cherished by the French people- and many others around the world.”
It is 336 pages of drama from the boardroom to the Champs-Elysees and every turn along the way. However, when pressed to make a prediction on this year’s event the author artfully steered clear. “On the actual racing, I defer to the experts. At the bank, the Amaury family will be the winners. They always are.”
Le Fric is published by Little, Brown Book Group and available in both hard and paperback.
