Bordeaux are forced into bankruptcy and amateur status after FSG takeover collapse

Bordeaux have filed for bankruptcy and lost their professional status after investment failed to arrive in the wake of FSG’s takeover deal collapsing.

Liverpool’s owners had been in talks with the French club over the possibility of saving the institution and completing a deal to expand their football portfolio.

If agreed, FSG’s investment would have enabled Bordeaux to remain in the second tier and created something of a ‘sister club’ for Liverpool.

But with the terms of the deal not favourable for FSG before the deadline earlier this month, the DNCG demoted the French side to the third tier due to a lack of financial guarantees.

In a club statement on Thursday, Bordeaux revealed they have filed for bankruptcy to “begin the necessary restructuring,” consequently losing their professional status.

Their statement reads: “Following the confirmation of the DNCG’s decision to relegate FC Girondins de Bordeaux to National 1, the club filed for bankruptcy with the Bordeaux Commercial Court on Tuesday, in order to begin the necessary restructuring.

“Consequently, the Commercial Court will very soon pronounce the opening of collective proceedings which will automatically result in the loss of the club’s professional status.

“Therefore, given the very short deadlines before the start of the National 1 season, the club had to give up requesting the maintenance of its professional status, otherwise it would have had to appear again before the DNCG with a budget that did not correspond not to the future reality of the club, which could have led to heavy additional sanctions.”

Left without any solution to their financial woes, Bordeaux have foregone the professional status that they held for 87 years and have been forced to close their training ground and release players from their contracts.

Desperate times for a club previously placed into administration in 2021 under their previous owners.

As for what the takeover collapse means for FSG, they will be seeking out new prospects for their multi-club model, and this will see them look at clubs in Europe and South America.