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Bordeaux Files for Bankruptcy, Set to Become Amateur Team After 90 Years

26/07/2024 MMN Sports

Former French Ligue 1 champions Bordeaux announced on Thursday that they will transition to an amateur club for the first time in nearly 90 years after filing for bankruptcy. This decision follows their acceptance of relegation to the third-tier Championnat National by the French football financial watchdog, the DNCG.

Located in France's south-west, Bordeaux won their last Ligue 1 title in 2009, marking one of six top-flight championships. The club first turned professional in 1937.

Bordeaux is seeking 40 million euros ($43.6 million) to address their financial issues and had previously engaged in discussions with Liverpool's owners, Fenway Sports Group (FSG), before the negotiations ended earlier this month.

According to a statement from the club, “On Tuesday, the club filed for bankruptcy with Bordeaux's commercial court, to be able to begin necessary restructuring.” The club decided to relinquish its professional status to avoid “heavy sanctions” from the DNCG that could have resulted from an unrealistic recovery plan.

Bordeaux was relegated to Ligue 2 in 2022, just 12 years after advancing to the Champions League quarter-finals. The town's mayor, Pierre Hurmic, criticized the decision made by Bordeaux's controversial owner, Gerard Lopez, who has invested 60 million euros into the club since 2021. Hurmic stated, “I've learnt with consternation the sudden and personal decision made by Gerard Lopez,” and described it as a result of risky management.

Former players including World Cup winners Zinedine Zidane, Bixente Lizarazu, and Christophe Dugarry, as well as Real Madrid midfielder Aurelien Tchouameni, have been associated with Bordeaux. Lizarazu commented on Instagram, “I feel extremely sick like everyone who loves the club. What's happening is unfortunately the result of disastrous football and financial management for many years.”

The transition to an amateur status will result in the closure of the club's academy and the departure of many professional players. The new Championnat National season is set to start on August 16, with Bordeaux expected to play at their 42,000-capacity Matmut Atlantique home stadium, France's sixth-largest.