Former Ligue 1 giants Bordeaux have been relegated to the third tier just one week after a breakdown in takeover talks with Liverpool owners FSG.
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FSG held discussions to takeover BordeauxPulled out last week after failure to reach agreementFrench club will now ply their trade in the third-tierWHAT HAPPENED?
Earlier this month, there was optimism among Bordeaux supporters as Fenway Sports Group (FSG) confirmed they were in discussions to purchase the club. However, last week, the American business firm unexpectedly withdrew from the negotiations, which was a hammer blow to Bordeaux’s hopes of financial and administrative stability.
AdvertisementGettyTHE BIGGER PICTURE
Bordeaux attempted to appeal against the Direction Nationale du Controle de Gestion (DNCG), the body responsible for overseeing the finances of French football clubs, regarding the decision to demote them. However, after the second round of talks failed to result in an agreement with FSG, they withdrew their appeal and accepted the relegation.
WHAT BORDEAUX SAID
The club released a statement on Monday, July 22, explaining the situation.
It read: "While discussions had resumed in recent days, FSG representatives indicated yesterday, Monday, July 22, to Bordeaux and its shareholders their desire not to follow through despite the assurances provided by various stakeholders. Therefore, in the absence of new elements, Bordeaux withdrew the appeal lodged against the decision of the DNCG.
“As a result, Bordeaux accepts the sanction of administrative demotion to the Championnat National for the 2024-2025 season and will be summoned again to present its budget to the DNCG.”
DID YOU KNOW?
Bordeaux's financial struggles are not new. In 2021, the club was placed into administration when their American owner, King Street, ceased financial support. The club was later acquired by Luxembourgish-Spanish businessman Gerard Lopez. Despite these changes in ownership, Bordeaux continued to face significant financial challenges which has not helped them recover their lost glory.
Once a dominant force in French football, Bordeaux has won the Ligue 1 title six times and reached the Champions League quarter-finals in the 2009-10 season. The club was relegated to Ligue 2 after finishing at the bottom of the table in the 2021-22 season. Subsequently, under the management of former Liverpool winger Albert Riera, Bordeaux finished a disappointing 12th in Ligue 2 for the 2023-24 season.