End of time! The Bordeaux club is insolvent and has filed for bankruptcy reorganization to give up its professional status.【fangjie】
2024-07-25
Reports from a number of French media indicate that the veteran French club Bordeaux has begun the necessary restructuring process due to insolvency and has filed a bankruptcy petition with the court. The court will soon start the relevant proceedings, and Bordeaux will lose its status as a professional football club.
Previous reports have suggested that Bordeaux is facing serious financial problems, unable to pay players' wages and having to make drastic spending cuts. In the year to June 30, the club made a net loss of 40 million euros. Abandonment of professional status will result in the automatic termination of all players' contracts and the club will also lose the use of the training centre.
In the absence of professional players, the club's cash needs will be significantly reduced. Bordeaux's chairman and owner Gerard Lopez needs to prove to the court that he is capable of continuing to run the club. If the court approves its bankruptcy petition, Bordeaux must submit a budget plan for next season in the next few days.
Founded in 1881, Bordeaux FC is a major force in the history of French football, having won six Ligue 1 titles and three French Cups. However, at the end of the 2021/22 season, Bordeaux were relegated from Ligue 1 to Ligue 2. In the 2023/24 Ligue 2 season, Bordeaux recorded 14 wins, 9 draws and 15 losses, finishing 13th. Zidane played for Bordeaux from 1992 to 1996.
Previous reports have suggested that Bordeaux is facing serious financial problems, unable to pay players' wages and having to make drastic spending cuts. In the year to June 30, the club made a net loss of 40 million euros. Abandonment of professional status will result in the automatic termination of all players' contracts and the club will also lose the use of the training centre.
In the absence of professional players, the club's cash needs will be significantly reduced. Bordeaux's chairman and owner Gerard Lopez needs to prove to the court that he is capable of continuing to run the club. If the court approves its bankruptcy petition, Bordeaux must submit a budget plan for next season in the next few days.
Founded in 1881, Bordeaux FC is a major force in the history of French football, having won six Ligue 1 titles and three French Cups. However, at the end of the 2021/22 season, Bordeaux were relegated from Ligue 1 to Ligue 2. In the 2023/24 Ligue 2 season, Bordeaux recorded 14 wins, 9 draws and 15 losses, finishing 13th. Zidane played for Bordeaux from 1992 to 1996.