Are the Girondins de Bordeaux threatened with extinction? Sportingly relegated to Ligue 2 after a difficult season, this historic French football club fell even lower. The DNCG, the financial policeman of football confirmed this Tuesday, July 5 on appeal the administrative demotion of the Bordeaux club to National 1, according to the minutes of the French Federation (FFF).
In question: the financial difficulties of the club. The Girondins de Bordeaux, a club founded in 1920 and six times champion of France, could now file for bankruptcy and undergo judicial liquidation.
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A risk of filing for bankruptcy
Its owner Gérard Lopez had recognized in recent days that in the event of an unfavorable decision, the club risked filing for bankruptcy. In an interview with RMC where he said he had “hand in hand” – up to 10 million euros of equity – to cover part of the deficit of 40 million euros, Lopez had estimated at 22 million euros the sum to be found to avoid relegation to National.
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The Girondins de Bordeaux had finally reached an agreement with their American creditors King Street and Fortress last Friday, according to sources in the club’s entourage. “We responded point by point and precisely to the motivations formulated by the DNCG” by finding the 40 million euros, had then entrusted the entourage of the club. Not enough to stay in Ligue 2, according to the body.
