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July 10 – Liverpool FC owners Fenway Sports Group (FSG) are currently in discussions to purchase ‘sleeping giant’ French club Girondins de Bordeaux.
FSG, which also owns MLB team Boston Red Sox and the NHL franchise Pittsburgh Penguins, had announced plans to acquire another club when they appointed Michael Edwards as their CEO of football earlier this year.
They have now stated that they are in “the early stages of dialogue and engagement” with Bordeaux, the six-time French champions.
The once-great club has endured a difficult period in recent years and were on the brink of bankruptcy after American investment fund King Street decided to withdraw its financial support in 2021.
They were then were demoted to the second division after finishing bottom of Ligue 1 in 2022, only to be relegated to the third tier before the 2022-23 season began due to concerns over the reported debts in the region of €40 million. They were later reinstated in Ligue 2 after putting together a debt restructuring plan.
However, they have yet again been demoted to the third tier because of concerns over their finances. The club are appealing that decision and hope the potential buyout by FSG will help restore them to the second flight.
It has been a scramble for investment at the club, with FSG poised to take advantage as they look to expand their football portfolio.
A statement from FSG said: “Fenway Sports Group has expressed interest in the potential acquisition of French football club Girondins de Bordeaux and is in the early stages of dialogue and engagement. While the process is at this exploratory phase, we will not be making any further comment.”
Bordeaux added in a statement: “FC Girondins de Bordeaux is continuing its discussions with Fenway Sports Group in view of the DNCG [Direction Nationale du Controle de Gestion] appeal committee.
“At the hearing on 27 June, the DNCG had granted a stay of proceedings for FC Girondins de Bordeaux in order to…
Source link : https://www.insideworldfootball.com/2024/07/10/liverpool-owners-fsg-bid-buy-girondins-de-bordeaux/
Author : Paul Nicholson
Publish date : 2024-07-10 09:32:26
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