In 2018, during the club's fifth consecutive season in Ligue 1, a conflict erupted within the management team, causing the departure of chairman Jean-François Fortin and coach Patrice Garande.

Facing financial troubles, it was bought by the American fund Oaktree Capital Management in 2020, which appointed Olivier Pickeu as the new president.

In 2024, Oaktree's 80% stake was acquired by investment firm Coalition Capital, a subsidiary of Kylian Mbappé's company Interconnected Ventures.

These clubs participated in the early editions of the football championship organised by the Union des Sociétés Françaises de Sports Athlétiques.

[5] In 1909 and 1911, several friendlies matches were organised between a selection of players from Caen and the English club of St Albans City F.C.

It was a multi-sport athletic club, which adopted the "Malherbe" and the striped jersey of the CMC, and the red and blue colours of CSC.

The football team of CMC, engaged in the league in Lower Normandy, changed its name just after the start of the season.

Stade Malherbe, reinforced by the move to Caen of the former French international Eugène Maës, won six times the championship of Lower Normandy between 1920 and 1928,[7] but were unable to compete with the major Upper Normandy clubs, Le Havre AC and FC Rouen.

In 1934, one year after FC Rouen and Le Havre AC, Stade Malherbe acquired professional status and reached the French Division 2.

In 1948, Stade Malherbe joined the newly founded Championnat de France amateur [fr], the third level of French football.

Soon considered as a "lord" in CFA, Caen was unable to win the championship, unlike their regional rival US Quevilly, despite successive calls to former French international players as coaches: Jules Vandooren, Jean Prouff, Andre Grillon, Jean Vincent and Oliver Celestin.

Through its success Caen won the "Challenge France-Football" rewarding the best amateur team in Coupe de France in 1956 and 1961.

Undermined by the instability of its coaches and presidents and a precarious financial health, Stade Malherbe weakened gradually and was relegated twice (in 1962 and 1965) into Division d'Honneur, but regained its place in CFA.

Caen made the stade de Venoix an unbeatable place but bowed out in front of AS Cannes in the playoffs.

Caen succeeded in the playoffs following season, defeating Olympique Lyonnais and Chamois Niortais F.C., relegated from D1.

Despite many departures, including coach Mankowski (replaced by Robert Nouzaret) and six first losses, Caen stayed up, one point ahead of RC Strasbourg, with the advent of a promising striker Fabrice Divert.

They were relegated on the last day of the 2004–05 Ligue 1 season, finishing in 18th place despite some positive results, including a surprise 3–2 away win at Marseille.

But the main highlight of their season was making it into the final of the Coupe de la Ligue for the first time in their history.

In 1989, a new logo was designed, with a longship floating on the waves, a nod to the Viking origin of Normandy, and three arrows of the city of Caen.

was made with a marked reference to the Norman identity: Stade de Venoix was the club's home from 1913, although the first stand was built only in 1925, until 1993.

[16] Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.