Financial crisis has pushed one of France's most storied clubs to the brink of collapse. Debts and mismanagement dragged the situation down bit by bit. Then came a symbolic buyout of the club's ownership, struck at an exceptional price to stave off liquidation and keep it alive.
AFPOne euro is the price of salvation
British investment firm Sparta Capital, in partnership with American company Park Bench, have bought Bordeaux "for one euro", according to L'Équipe.
The French newspaper revealed the deal, as reported by Brazilian website O Globo: "The deal was confirmed at the end of July, and aims to restructure the French club, which is facing a severe financial crisis and was threatened with bankruptcy."
Bordeaux owner since 2021, businessman Gérard Lopez gave up his controlling stake to smooth the sale. He also waived a purchase clause worth 12 million euros.
Control now passes to Sparta Capital, led by former AC Milan adviser Frank Touil. Park Bench belongs to Britain's James Bord, an investor in football in both Scotland and Spain.
11 million euros: is the crisis over?
Bordeaux won the French league six times, the last in the 2008-2009 season. Relegation to the second division followed in 2022, and a financial collapse left them unable to climb back, with a deficit of around 40 million euros on the books. Then the crisis deepened. They lost their "professional club" status after 87 years, saw their youth categories temporarily shut down and found themselves excluded from national competitions.
Determined to steer Bordeaux back on track, the new owners raised nearly 11 million euros. That money now sits in an escrow account, ready to cover the running costs of the current season and satisfy the demands of the judicial recovery plan.
Even so, and even with fresh faces in charge, nothing about the club's future is guaranteed. The team is waiting on the French Olympic and Sports Committee, which must rule on the appeal lodged against their exclusion from national competitions.
Should the appeal succeed, Bordeaux can keep playing while the new management gets on with rebuilding the finances.
Kooora forums
Star factory
Bordeaux have long served as a gateway for a host of French and international stars. Zinedine Zidane leads the list. The current France national team coach played for Bordeaux between 1992 and 1996 before joining Juventus and beginning his climb towards the summit of world football.
Jules Koundé is another graduate. The current Barcelona defender launched his career at Bordeaux before catching the eye at Sevilla and earning his move to the Catalan club.
Plenty of prominent names have pulled on the Bordeaux shirt too: Lizarazu, Christophe Dugarry, Alain Giresse, Pauleta, Marouane Chamakh, Didier Deschamps, Eric Cantona, Tchouaméni and Malcom. It all underlines the club's historic standing as one of France's most important talent factories.
Read also: paying the price for shining at the World Cup: Fuzhinha suffers after fame and talks about offers from Saudi Arabia
Advertisement
ENJOYED THIS STORY?
Add GOAL.com as a preferred source on Google to see more of our reporting