Source: REUTERS/Susana Vera
[Saba Sports News] The Bordeaux Club has officially announced its filing for bankruptcy in order to initiate the necessary restructuring process. The court is expected to commence the relevant procedures soon, and as a result, Bordeaux will lose its professional club status. Earlier reports indicated that Bordeaux was unable to pay wages and had to make significant expenditure cuts. As of June 30th, Bordeaux had a net loss of 40 million euros. Giving up professional status will automatically terminate all player contracts and lead to the loss of the training center. It is reported that without professional players, the need for cash will be significantly reduced. Club chairman and owner Gerard Lopez will need to assure the court that he has the capability to continue running the company. If the court approves the legal recovery, the club must submit next season’s budget to the DNCG in the coming days. Founded in 1881, Bordeaux is a traditional powerhouse in French football, having won 6 French Ligue 1 championships and 3 French Cup championships. Bordeaux will be relegated from Ligue 1 to Ligue 2 at the end of the 2021/22 season. In the 2023/24 season, Bordeaux finished 13th in Ligue 2 with 14 wins, 9 draws, and 15 losses.