Girondins de Bordeaux Abandons Appeal Against Administrative Expropriation Amid Takeover Uncertainty

by time news

2024-07-23 09:42:08

A new turn for the Girondins de Bordeaux. The football club announced on Tuesday the 23rd of July that it was abandoning its appeal against its administrative expropriation of the National (3rd division) for the 2024-2025 season, due to the lack of agreement with the American group Fenway Sports Group regarding a takeover .

The club will called again to present his budget to the DNCG [Direction nationale de contrôle et de gestion, le gendarme financier du foot français] “, he wrote in a press release, adding ” the opening period should allow FC Girondins de Bordeaux to come back stronger and at the highest level. The club and its shareholders declare to supporters, and all interested parties, that they wish to protect the interests of the club. »

The six-time French champion club was first downgraded by the DNCG on July 9 due to a lack of financial guarantees: it needed 40 million euros to balance its accounts and cover next season’s budget .

Its owner, Gerard Lopez, had replenished the funds himself last season but this time he did not mention this hypothesis, in an interview given by Agence France-Presse on Thursday 17 July.

After investing almost 60 million euros from his own pocket and the pocket of his partners from 2021, the Spanish-Luxembourg businessman seems to have decided to stop the summer infusions of a club with recurring deficits.

The World by AFP

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