Liverpool owners Fenway Sports Group (FSG), dashed hopes of Bordeaux by withdrawing from talks with the struggling French club, currently fighting relegation in the third division.
Bordeaux were contesting their demotion from Ligue 2 due to financial struggles.
They received the news with disappointment after Fenway Sports Group cited the daunting costa of maintaining their stadium and the challenging economic climate in French football. Bordeaux said it had
“Been informed by Fenway Sports Group of its intention not to pursue discussions.
This decision is explained in particular by the significant cost of the stadium in the coming years, but also by the general economic context of French soccer.”
Liverpool Owners Scared Of Bordeaux Deal
Despite weeks of negotiations and participation in regulatory hearings, FSG ultimately opted out.
This news left Bordeaux to focus on securing 40 million euros to stabilize their finances before an upcoming appeal. The abrupt end to talks left Bordeaux scrambling for alternatives.
FSG had been in contact with Bordeaux owner Gerard Lopez for several weeks and took part in the club’s hearing with French football’s financial watchdog the DNCG on July 9.
FSG, the US group owns baseball’s Boston Red Sox and the Pittsburgh Penguins ice hockey club as well as Premier League giants Liverpool. They said in a separate statement,
“Following extensive and constructive discussions with all stakeholders, Fenway Sports Group has made the decision not to pursue the acquisition of FC Girondins de Bordeaux.”
Sources close to the talks indicated that the expenses associated with operating Bordeaux’s Matmut Atlantique stadium, coupled with the unsatisfactory results of Ligue 1 television rights negotiations, contributed significantly to Fenway Sports Group’s decision to withdraw from talks.
The Girondins need to face the urgent task of raising 40 million euros ($43.6 million) to balance their accounts before trying to convince the DNCG for leniency.
“The club and its shareholder are now putting all their energy into finalising a financing plan for the 2024-25 season in preparation for the appeal hearing.”
scheduled for July 23 or 24. — AFP
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