Former French Ligue 1 champions Bordeaux have announced that they will transition to an amateur status for the first time in nearly 90 years following a bankruptcy filing on Thursday.
Earlier this week, the club accepted its relegation to the third-tier Championnat National, as mandated by French football’s financial oversight body, the DNCG.
Located in south-western France, Bordeaux last claimed one of their six top-flight titles in 2009. The club, which turned professional in 1937, is currently seeking 40 million euros ($43.6 million) to stabilize its finances. Discussions with Liverpool’s owners, Fenway Sports Group (FSG), recently collapsed.
The club officially filed for bankruptcy with Bordeaux’s commercial court on Tuesday to initiate necessary restructuring efforts. In a statement, Bordeaux explained, “The club had to give up asking to maintain its professional status” due to potential “heavy sanctions” if a recovery plan inconsistent with its future financial situation was presented to the DNCG.
Relegated to Ligue 2 in 2022, Bordeaux’s fall from grace has been marked by their previous participation in the Champions League quarter-finals just 12 years prior. The town’s mayor, Pierre Hurmic, criticized Bordeaux’s owner Gerard Lopez for his decision. Lopez has invested 60 million euros into the club since 2021. Hurmic said, “I’ve learnt with consternation the sudden and personal decision made by Gerard Lopez. It confirms the risky management that has led our club in the space of three years from the elite Ligue 1 to the amateur level.”
Notable players with ties to Bordeaux include World Cup winners Zinedine Zidane, Bixente Lizarazu, and Christophe Dugarry, as well as Real Madrid’s Aurelien Tchouameni. Lizarazu, reflecting on the situation, stated, “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.”
As a result of the bankruptcy, Bordeaux’s academy will be closed, and numerous professional players will depart. The new Championnat National season is set to commence on August 16, with Bordeaux expected to play their matches at the 42,000-capacity Matmut Atlantique, France’s sixth-largest stadium.
