July 10 – Liverpool FC owners Fenway Sports Group (FSG) are currently in discussions to purchase ‘sleeping giant’ French club Girondins de Bordeaux.
FSG, which also owns MLB team Boston Red Sox and the NHL franchise Pittsburgh Penguins, had announced plans to acquire another club when they appointed Michael Edwards as their CEO of football earlier this year.
They have now stated that they are in “the early stages of dialogue and engagement” with Bordeaux, the six-time French champions.
The once-great club has endured a difficult period in recent years and were on the brink of bankruptcy after American investment fund King Street decided to withdraw its financial support in 2021.
They were then were demoted to the second division after finishing bottom of Ligue 1 in 2022, only to be relegated to the third tier before the 2022-23 season began due to concerns over the reported debts in the region of €40 million. They were later reinstated in Ligue 2 after putting together a debt restructuring plan.
However, they have yet again been demoted to the third tier because of concerns over their finances. The club are appealing that decision and hope the potential buyout by FSG will help restore them to the second flight.
It has been a scramble for investment at the club, with FSG poised to take advantage as they look to expand their football portfolio.
A statement from FSG said: “Fenway Sports Group has expressed interest in the potential acquisition of French football club Girondins de Bordeaux and is in the early stages of dialogue and engagement. While the process is at this exploratory phase, we will not be making any further comment.”
Bordeaux added in a statement: “FC Girondins de Bordeaux is continuing its discussions with Fenway Sports Group in view of the DNCG [Direction Nationale du Controle de Gestion] appeal committee.
“At the hearing on 27 June, the DNCG had granted a stay of proceedings for FC Girondins de Bordeaux in order to provide all the necessary guarantees for the financing of the 2024-2025 season. For the moment, the progress of the case has led the DNCG to relegate the club to the National Championship 1.
“The club is appealing this decision and now has the time to finalise one of the options that will guarantee the financing of next season.
“As such, the project to sell a majority stake in the capital to Fenway Sports Group was presented this morning to the DNCG in the presence of its representatives and we are working, hand in hand with them, as part of the continuation of negotiations and due diligence.”
FSG have promised Liverpool fans that their pursuit of Bordeaux will not take away any focus on developing the Reds for the coming season.
“This in no way takes away from the focus, attention, care — and most importantly — the investment in Liverpool. In fact, we see it as a path that will help strengthen our club for the future,” said FSG President Mike Gordon.
As FSG become more ambitious in acquiring clubs, Bordeaux is tipped to be the first of a growing portfolio that could expand to South America or Asia in the coming years.
Contact the writer of this story, Harry Ewing, at moc.l1725704622labto1725704622ofdlr1725704622owedi1725704622sni@g1725704622niwe.1725704622yrrah1725704622