March 4 – Former French club giant Auxerre, currently in Ligue 2, is under scrutiny by French football’s financial watchdog and has until the end of the season to recapitalise or face possible relegation.
Auxerre president Gerard Bourgoin was interviewed by French football’s financial watchdog, the National Directorate of Management Control (DNCG), last week at the headquarters of the Football League for about 1 hour.
Bourgoin presented the club’s draft recovery and recapitalisation plans, whilst the DNCG informed the club that it has until the end of the season to complete its recapitalization, with a decision on possible sanctions reserved.
The club was estimated to be €16.33 million in debt last June and has since made significant cuts to playing staff, but Bourgoin is still looking for €5-10 million in investment, from private investors or municipal authorities. Auzerre is finished 3rd in Ligue 1 in 2009/10 but currently sits in 9th position in Ligue 2.
Contact the writer of this story moc.l1734796415labto1734796415ofdlr1734796415owedi1734796415sni@r1734796415ebab.1734796415kram1734796415