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SportsSparta withdraws backing, Girondins de Bordeaux face judicial liquidation
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The Girondins de Bordeaux football club is on the verge of collapse after the British investment fund Sparta withdrew its financial backing, failing to raise the necessary 10 million euros to fund the upcoming season. The club's leaders will appear before the DNCG appeals committee on Wednesday, which is expected to confirm Bordeaux's exclusion from the National Championships, a decision initially made on June 30. If the sanction is upheld, the plan's enforcement commissioner will likely request termination of the club's recovery plan due to an irremediably compromised financial situation, leading the commercial court to open judicial liquidation proceedings by the end of the month. The only remaining hope is a last-minute payment by former owner Gérard Lopez. If liquidation proceeds, the club could be relegated to the Sixth Division (R1) or lower, with the Girondins de Bordeaux association facing debts of 4.5 million euros for foreign transfers and 500,000 euros in training compensation.
Source report
On Wednesday morning at 10:15 AM, the leaders of Girondins de Bordeaux will appear alone before the DNCG appeals committee. They are expected to have their exclusion from the National Championships, pronounced on June 30, confirmed.
Funding Failure
Sparta, the British investment fund, has failed to raise the essential €10 million needed to finance the upcoming season. Franck Tuil, one of Sparta's founders, and his associates had placed their last hopes in an American investor — in vain.
Only a Twist Could Reverse the Outcome
From now on, only another twist could reverse the trend. In other words, only a payment by Gérard Lopez of the required sum would prevent the Bordeaux club from playing at best in R1, equivalent to the Sixth Division, next season. The Marine et Blanc could find themselves even lower, with the Nouvelle-Aquitaine League set to decide.
Close to Judicial Liquidation
Worse, the upholding of the sanction should lead the plan's enforcement commissioner to file a request with the commercial court, asking for the plan's termination given an irremediably compromised economic, social, and financial situation. The commercial court can then, by judgment, order the opening of a judicial liquidation procedure. Concretely, liquidation could be pronounced by the end of the month.
The Girondins de Bordeaux association, chaired by Jean-Louis Triaud, would find itself alone facing charges related to the affiliation number, notably:
- €4.5 million owed for foreign transfers
- €500,000 linked to training compensation
Source
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