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Following their relegation to the 3rd division in French football and after three years of financial struggles, Girondins de Bordeaux have shut down.
Bordeaux have renounced their professional status after being relegated to the third tier of French football.
The six-time French champions were relying on a takeover from Liverpool owners FSG to save them from further penalties following financial struggles in recent years. However, after the group pulled out, the French club accepted relegation to the third tier and renounced their professional status, first obtained in 1937.
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FC Bordeaux: A tale of a failed takeover and financial struggles
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As stated earlier, the former Ligue 1 side saw the FSG takeover collapse after facing financial problems for years.
The collapse of the takeover left Bordeaux with no choice but to face the consequences of their financial instability.
And an official press release on Thursday, July 25, confirmed that the club has officially filed for bankruptcy.
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The statement read:
“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."
With the decision to renounce their professional status, Bordeaux will no longer operate as a professional club after the relegation penalty.
The club emphasized the necessity of this move, stating,
"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 to the future reality of the Club, which could have led to heavy additional sanctions.
“It is a difficult decision which anticipates an inevitable consequence of the ongoing restructuring process. Although the training center will close as a result, the Club will continue to promote youth teams."
This decision means that every player's contract will now be terminated, and the training center will be closed to reduce financial costs.
This ends three years of struggles, having initially gone into administration in 2021. Despite the challenges, the club remains optimistic about its future.
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"The effort of transparency vis-à-vis the French football authorities of what the real situation of the Club will be in the days and weeks to come must in particular make it possible to limit the sporting consequences of this situation, the Club having the objective of evolving in National 1 next season, to allow, as quickly as possible, the return of the Club, with cleaned-up finances and renewed ambition, at the highest level,” the club noted.
During Bordeaux’s time as a professional football club, they signed four Nigerian footballers - Samuel Kalu, Josh Maja, Joseph Enakarhire, and Kalu Uche.
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