“While discussions had resumed in recent days, representatives of Fenway Sports Group indicated yesterday, Monday 22 July, to FC Girondins de Bordeaux and its shareholder that they did not wish to proceed, despite assurances given by various stakeholders. Consequently, in the absence of any new information, FC Girondins de Bordeaux has withdrawn its appeal against the decision of the DNCG [editor’s note: Direction Nationale du Contrôle de Gestion, responsible for monitoring the accounts of professional football clubs in France] of 9 July 2024. Consequently, FC Girondins de Bordeaux accepts the sanction of administrative demotion to the National 1 Championship for the 2024/2025 season and will be summoned again to present its budget to the DNCG. The period ahead should enable FC Girondins de Bordeaux to return stronger and at the highest level. The club and its shareholder assure supporters, and all stakeholders, of their determination to protect the club’s interests.”
The press release marks the end of suspense and an intense period of negotiations in and around the club. After having invested €60m in the club since 2021 with his partners from Jogo Bonito, Luxembourg’s Gerard Lopez reportedly failed to convince FSG to put €40-45m on the table to avoid demotion in the run-up to next season.
, citing a lack of proper finances.
Since then, Fenway Sports Group (New England Sports Ventures until 2011 and owner of the Boston Red Sox, Pittsburgh Penguins, Liverpool FC and Roush Fenway Racing), had been back and forth at the negotiating table, trying to obtain a better price for the stadium rental and arrears. According to a source at AFP, FSG finally gave up on Monday evening, saying that “by buying after (a possible) receivership, they will make a good deal.”
Bordeaux, Ligue 2’s biggest budget at the start of the season, finished in 12th place, a far cry from their ambitions of climbing back into Ligue 1, having already failed to do so the previous season.
The top league in French professional football is Ligue 1, followed by Ligue 2. National 1, National 2 and National 3 are semi-professional leagues.
This article was originally published in .