Bordeaux, a former Champions League club, has made the difficult decision to renounce its professional status after being relegated to the third tier of French football. The club has been plagued by financial troubles and hoped that dropping down to a lower division would help alleviate some of their woes. However, this move has put them on the brink of liquidation, with a court date set at the Commercial Court in France.
Prior to their relegation, Bordeaux was engaged in takeover talks with Fenway Sports Group, the owners of Liverpool FC. Unfortunately, these discussions did not yield a favorable outcome, leading to Fenway Sports Group withdrawing their interest. This has left Bordeaux in a precarious situation, as they now face the possibility of being wound up in court.
In an effort to prepare for their upcoming trial, Bordeaux has decided to end their professional status. This means that all players’ contracts will be automatically terminated, and the club will have to close their training ground after forfeiting the license for it. This is a significant blow to Bordeaux, who have been a professional club since 1937 and have won Ligue 1 on six occasions.
The financial situation at Bordeaux is dire. The club reported a net loss of approximately £34 million last season, with a wage bill of £21 million. In court next week, Bordeaux is expected to request the opening of a judicial recovery procedure that will freeze all their debts, which amount to around £76 million. This procedure would provide the club with some breathing room as they try to find a way forward.
Despite their struggles, former Liverpool player Albert Riera has remained in charge of Bordeaux as the manager. It is a challenging position for Riera, as he navigates the club through this turbulent time. The new season is set to commence on August 17, adding pressure to the already difficult situation.
Bordeaux’s plight serves as a reminder of the financial challenges faced by many football clubs, particularly in the lower divisions. Without the financial backing and stability of larger clubs or wealthy owners, these clubs often find themselves in precarious situations. The current economic climate, exacerbated by the ongoing pandemic, has only intensified these difficulties.
As for Bordeaux, their future remains uncertain. The court proceedings will determine whether the club can find a way to survive or if they will be forced to close their doors for good. The outcome will not only impact the club itself but also the loyal fans who have supported Bordeaux throughout the years. It is a stark reminder of the fragility of professional football and the importance of financial stability in the sport.