October 30 – Girondins de Bordeaux secured a much-needed lifeline on Tuesday, allowing the club to continue operations following a commercial court ruling.
Summoned to address a financial gap of at least €3.6 million needed to fund the club’s Employment Safeguarding Plan, the court revealed that Bordeaux’s overall financial shortfall is estimated at €8 million.
It went on to grant the club permission to operate until January 30, with a follow-up hearing scheduled for January 21.
Club lawyer Laurent Cotret welcomed the ruling, describing it as “good news”, and a reflection of the court’s confidence in Bordeaux’s restructuring plan.
Cotret emphasised the club’s ambition to advance to the next tier National league and ultimately return to Ligue 2 as soon as possible.
Bordeaux’s owner Gérard Lopez was not present at the hearing, and, according to Cotret, has not re-injected funds into the club.
The news breaks three months after Girondins, one of France’s most historic and iconic clubs, filed for bankruptcy and dropped their pro team status just days after they were relegated to the third tier of French football and Fenway Sports Group, the owners of Liverpool, withdrew from takeover talks.
As well as abandoning the professional status they held since 1937, Bordeaux also had to close their renowned training academy, which helped spawn the likes of Zinedine Zidane.
Adding to their bad luck, Tuesday’s court session showed that Bordeaux missed out on €1 million from the transfer of former player Jules Koundé from Sevilla to FC Barcelona, as Lopez reportedly sold those rights two years ago to his former creditors, King Street and Fortress.
Currently, Les Girondins sit in 10th place in Group B of National 2 with nine points after six matches. Only the top team in each National 2 group secures promotion to the third tier, keeping Bordeaux’s aspirations for advancement a challenging prospect.
Contact the writer of this story, Harry Ewing, at moc.l1734850566labto1734850566ofdlr1734850566owedi1734850566sni@g1734850566niwe.1734850566yrrah1734850566