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Portuguese club Boavista to cease operations on July 31, 2026, after financial collapse with debts exceeding €150 million
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Portuguese football club Boavista, founded in 1903 and a rare winner of the Primeira Liga in 2001, will cease all activities on July 31, 2026, following a financial collapse driven by debts exceeding 150 million euros. The announcement came shortly after Girondins de Bordeaux, another historic club owned by the same businessman Gerard López, was administratively relegated to the sixth tier of French football. Boavista had already been relegated to the fifth tier in 2025 and finished last. The club's stadium was put up for auction. Bordeaux, a six-time French champion and 1996 UEFA Cup finalist, has also faced severe financial troubles, including a 2022 relegation to Ligue 2 and a subsequent drop to the fourth division after renouncing professional status. The DNCG cited a 10 million euro shortfall as the final blow. Both clubs' crises are linked to López's mismanagement and broader financial issues in European football.
Source report
Updated: July 21, 2026 — 5:21 PM CEST Author: Nacho Valles
A historic Portuguese club is falling into the abyss. Boavista will be forced to cease all its activities on July 31. The announcement came shortly after the relegation of Girondins de Bordeaux to the French sixth division was confirmed. Both cases share a common name: Gerard López.
The Spanish businessman, born in Luxembourg and owner of both Boavista and Girondins de Bordeaux, is once again in the media spotlight following the collapse of his two most recent projects.
Boavista: A Fallen Giant
Boavista is a Portuguese club founded in 1903. It is one of only five clubs to have won the Portuguese league in its entire history.
- 2001 league title — considered one of the greatest feats in Portuguese football, breaking the hegemony of Benfica, Porto, and Sporting Portugal.
- Only Belenenses had achieved this before, and that was 80 years earlier, in 1946.
- The club has also won five Portuguese Cup championships.
A History of Setbacks
The club had already suffered a major blow in 2008, when it was relegated due to a refereeing scandal. It took several years to return to the top flight.
However, the arrival of Gerard López in 2020 marked the beginning of an irreversible decline. Accumulated financial debts and sanctions have left the club severely weakened.
The Final Blow
- Debt exceeded €150 million.
- Sporting relegation in 2025 to the fifth tier of Portuguese football, where they finished last.
- The club's stadium was put up for auction.
- The insolvency administrator has now announced the total cessation of Boavista's activities.
Girondins de Bordeaux: A Similar Fate
Founded in 1881, Girondins de Bordeaux is one of the most traditional clubs in French football, with:
- Six French league titles
- Four French Cups
- A UEFA Cup final appearance in 1996
By 2026, the club is on the verge of disappearing.
The Crisis Unfolds
- In 2020, all French clubs suffered a severe setback due to the collapse of television rights, a key source of income.
- In 2021, King Street, the investor of the GACP group, abandoned the club, leaving it with a debt of over €50 million.
Gerard López Takes Over
After a turbulent stint at Lille, López bought Bordeaux. The result was the worst season in the club's history, culminating in relegation to Ligue 2 in 2022.
Two years later, due to numerous financial problems, Bordeaux renounced its professional status and dropped to the fourth division.
The Final Straw
This season, the club narrowly missed promotion and appeared to have met required payments. However, they were €10 million short to stay afloat next season. As a result, the DNCG — the French financial watchdog — has intervened, leading to the club's relegation to the sixth division.
Source
Fútbol en AS.comWestern
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Boavista Football Club Ordered to Cease Operations Due to Insolvency