Liverpool's US owners send French giants down to third level
The past season, several historically significant clubs with domestic success and Champions League experience found themselves battling relegation. The 2023-24 campaign saw these teams, once giants in their respective leagues, struggle to maintain their status. The situation had been particularly dire for Bordeaux, a club with a rich history in French soccer.
Once a dominant force in Ligue 1, the Girondins have faced severe financial difficulties over the past few years. The club has won the French top-tier title six times and reached the Champions League quarterfinals in the 2009-10 season. However, the club went down to Ligue 2 after finishing at the bottom of the table in the 2021-22 season. Despite efforts to regain their top-flight status, including a management change with former Liverpool winger Albert Riera at the helm, Bordeaux finished a disappointing 12th in Ligue 2 for the 2023-24 season.
Earlier this year, there was a glimmer of hope for Bordeaux supporters when Fenway Sports Group (FSG), Liverpool’s American owners, revealed it was in discussions to purchase the club. This potential takeover was seen as a lifeline for the Frenchmen, promising much-needed financial and administrative stability. However, last week, FSG unexpectedly withdrew from the negotiations, dealing a significant blow to the club’s aspirations.
Enormous impact of Liverpool withdrawal from Bordeaux
Following the breakdown of talks with FSG, Bordeaux attempted to appeal against the decision of the body overseeing the finances of French soccer clubs. In turn, France decided to demote Bordeaux, so the club’s statement explained the situation. “While discussions had resumed in recent days, FSG representatives indicated yesterday, Monday, July 22, to Bordeaux and its shareholders their desire not to follow through despite the assurances provided by various stakeholders. Therefore, in the absence of new elements, Bordeaux withdrew the appeal lodged against the decision of the DNCG.”
As a result, Bordeaux accepted the sanction of administrative demotion to the third tier during the 2024-25 season. The club now faces the daunting task of rebuilding from the lower echelons of French levels.
They have a storied history of nurturing talent, with notable players like Zinedine Zidane, Christophe Dugarry, and Jean Tigana donning their colors. More recently, Real Madrid and France midfielder Aurelien Tchouameni emerged from their youth system. With a passionate fan base and a rich history, there is hope that Bordeaux can rise again and reclaim their place in the upper echelons of French levels.
Struggles are nothing new for the club
Bordeaux’s financial troubles are not new. In 2021, the club was placed into administration when its American owner, King Street, ceased financial support. The club was later acquired by Luxembourgish-Spanish businessman Gerard Lopez. Despite these changes in ownership, Bordeaux continued to face significant financial challenges. These have only hindered their ability to recover their lost glory.
But the Matmut Atlantique outfit was not the only historic club facing challenges last season. Lyon, another former French giant, had also been struggling with off-field uncertainty affecting on-pitch performances. Under long-serving president Jean-Michel Aulas, Lyon dominated the men’s game in France. But that was before the arrival of Paris Saint-Germain. However, the sale of the club to John Textor’s Eagle Football Holdings and subsequent financial restructuring have led to poor performances on the pitch.
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