Financial Crisis Hits Boavista as Court Allows Seizure of Transfer Funds Amid Debt Struggles

by time news

2024-08-20 07:58:15

Owned by Gérard Lopez, the Boavista club is also facing financial problems. The Porto court allowed the company that manages the club’s stadium, which was demanding almost 7 million euros, to seize the money Boavista received in the transfer market.

The problems are increasing for Gérard Lopez. If the Girondins de Bordeaux were relegated to N2 due to their financial concerns, Boavista is also going through a delicate situation. Two-thirds owned by the Spanish-Luxembourg businessman, Boavista is struggling to repay its debts.

Boavista will have to repay 6.8 million to the company that manages the stadium

In recent months, Boavista players and employees have complained about numerous unpaid bills. At the end of June, Gérard Lopez paid three million euros to save the Portuguese club’s place in the elite, wiping the slate clean in terms of all delays. However, Boavista is still under investigation by FIFA over his debts and has a recruitment ban.

This time, according to the Portuguese media And she wasthe company that manages the club’s stadium received authorization from the Porto court to receive repayment from Boavista, who owed 6.8 million euros with interest. This company will be able to seize the money that Boavista collects on the transfer market.

This money could have allowed Boavista to pay off some of his debts. So Gérard Lopez will have to find a solution to end the recruitment ban and comply with the local authorities. To make matters worse, in the last few days, the president of the club was suspended for six months for harassing an employee.

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