French entrepreneur Max Guazzini also says Stade Francais is a "production line" for Wallabies coaches, after being the launching pad for three of Australia's past four Test leaders.

Guazzini, known for his left-field ideas and making Stade Francais' playing kit pink, has worked with Cheika, Ewen McKenzie and John Connolly.

All three went on to coach the Wallabies after their coaching stints in Paris, and while Cheika had a mixed time at Stade Francais, Guazzini says he can lead an Australian rugby revival.

"In fact, at Stade Francais we have a tradition of producing Australian coaches," Guazzini said. "We started with John Connolly, he was very good and technical. Then there was McKenzie and we got Cheika because he played in France, in Paris and was coach of Leinster.

"He was a champion of Europe, he's a good coach. It was a difficult period for Stade Francais, Cheika likes to be the boss. I'm not surprised he is Australia coach. It's like a production line.

"Maybe to be Australian coach they have to start at Stade Francais just to have a coach. It's incredible."

Cheika joked the Wallabies' Test against France in Paris on Saturday night, French time, will be like a "home game" after spending three years as Stade Francais coach.

He has been in hot demand with local journalists and will speak in French at the team's announcement when he answers questions.

But his time at the club was filled with off-field drama and financial troubles, as the team was almost thrown out of the Top 14 competition.

Millionaire Guazzini lifted Stade Francais to prominence thanks to an injection of cash in the 1990s, and was in charge as they became one of the most successful clubs.

But trouble hit during Cheika's tenure and the club almost went broke and faced relegation if they could not convince officials they had €13 million ($21 million) to cover debts and fund their future.

An investment from a Canadian company fell over, leading to legal action and arrests, and Stade Francais could not pay salaries.

An investment from French businessman Jean-Pierre Savare, chairman of technology company Oberthur, saved Stade Francais.

Guazzini stepped aside as president after having the role since 1992 and went into an honorary position, with Thomas Savare taking over.

"We got our first Australian coach because Bernard Laporte was made the French coach and we thought it was better to have a coach from the south," Guazzini said. "I'm very happy for Michael Cheika. He won Super Rugby, I'm very happy for him. It wasn't a mistake to take him as coach.

"The Australian culture is different to the French culture, he wants to control everything. He did not have enough time in Paris but he will be good for Australia."

Stade Francais currently boast Australians Digby Ioane, David Lyons, Hugh Pyle and Richard Kingi, as well as former NRL star Krisnan Inu.

Mark Gasnier and George Smith have also played for Stade Francais. Cheika was the club's coach from 2010 before he was sacked and joined the NSW Waratahs for the 2013 Super Rugby season.